The Special Economic Offences Wing court of Nampally in Hyderabad convicted former Chairman of Satyam, Ramalinga Raju in Hyderabad on Monday.

Ramalinga Raju, along with brother Rama Raju and eight others have been slapped a fine of Rs 5 lakh and 6 months of imprisonment for fraud.  

Ramalinga Raju and others have been charged with offences ranging from cheating, criminal conspiracy, forgery, breach of trust under relevant sections of IPC, besides allegedly falsifying returns through violation of various I-T laws.

The six year old case, which came to light on January 7, 2009 when its founder Ramalinga Raju confessed to manipulating his company's account books, is touted as the biggest accounting fraud in the country.

Raju also reported confessed that he inflated profits of the company over many years to the tune of several crores of rupees.

Apart from the ownder, those accused in the case include his brother and Satyam's former MD B Rama Raju, ex-CFO Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju's another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam, and Satyam's former internal chief auditor V S Prabhakar Gupta.

The trial in Satyam fraud case had concluded in June before the special court, which examined 216 witnesses and marked 3,038 documents during the course of the hearing.

Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.

Raju and others were charged with offences like cheating, criminal conspiracy, forgery and breach of trust, under relevant sections of IPC, for inflating invoices and incomes, account falsification, faking fixed deposits, besides allegedly falsifying returns through violation of various I-T laws.

During the trial, the CBI alleged that the scam caused a loss of Rs 14,000 crore to Satyam shareholders, while the defence countered the charges, saying the accused were not responsible for the fraud and all the documents filed by the central agency relating to the case were fabricated and not according to law.