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Satyam Founder Gets 7 Years for India’s Biggest Corporate Fraud

An Indian court sentenced the founder of Satyam Computer Services Ltd. to seven years in prison after finding him guilty of India’s biggest corporate fraud.

Ramalinga Raju, 60, had admitted to inflating the software maker’s assets by about $1 billion in 2009, triggering an erosion in the shares of the Hyderabad-based company to about a fifth of their previous value. The case led to Satyam’s acquisition by Tech Mahindra Ltd. and shareholder lawsuits against the founders and the audit committee.