Rajus rigged shares, diverted funds abroad: CBI

ET NOW: The Central Bureau of Investigation (CBI) probing the fraud at Satyam Computers has evidence now that the erstwhile promoter, B Ramalinga Raju, and his family rigged shares and diverted funds overseas. (Watch)

The country���s apex investigative agency will reveal the modus operadi of the fund diversion in its second charge sheet to be filed by this month-end, said a top CBI official.

According to him, the windfall gains made by the company by rigging shares were used to buy large chunks of land in Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra.

It has also found evidence on fund trail abroad. Raju and his associates are understood to have siphoned off money to tax havens and later rerouted it back into the country through the 325 front companies. The CBI and a clutch of other agencies were asked to probe the fraud, after Raju confessed to padding the books.

���We have sent Letters Rogatory to countries and expect to receive a reply. If the information takes more time, we will file another chargesheet,��� he said. The agency is also probing the role of a prominent stock broker for alleged mismanagement of funds.

On April 7, the premier investigation agency had filed its first charge sheet against Raju and eight others under various sections of the Indian Penal Code for cheating and forgery.

It had submitted voluminous documents of bank transactions and other material as evidence to prove the fraud along with the chargesheet. The US SEC has also completed its probe into the multi-crore fraud case.

Last month, the SEC team was in Hyderabad and had detailed discussions with the CBI, especially on the role of auditors in the scam.