He further said Lalu Prasad's only fault was that he belongs to a backward class and fought against social injustice.
This was the first big setback for the man who successfully returned to power in 1995, and sidelined compatriots such as George Fernandes, Sharad Yadav and Ram Vilas Paswan.
Yadav and several officials embezzled state funds totalling almost 9 million rupees (140,580 dollars) destined for cattle fodder between 1991 and 1994.
Raghuvansh Prasad said that besides fighting it legally, the party would go to the people "fight it politically also".
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"It has been proved that Lalu Prasad indulged in corruption and the decision has been given by the court".
The Jharkhand police today took the RJD chief into custody and brought him to Birsa Munda Central Jail here after he was found guilty in a fodder scam case. Laluji has been charged with connivance as he was the finance minister then - the charge is not direct.
He told ANI: "I believe in the judiciary but in this case, CBI was arranging prosecution".
In fact, the new era of younger politicians - Rahul Gandhi in Congress and Lalu's firebrand son Tejashwi Yadav in RJD - has seen the same bonhomie being forged that the RJD icon and the "leader of the downtrodden" as many, including BJP leader and Bollywood star Shatrughan Sinha call him, had shared with Sonia Gandhi. Following these PILs, the Patna High Court in March 1996 asked the CBI to investigate the case.
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CBI judge Shivpal Singh pronounced the verdict in the case pertaining to fraudulent withdrawal of Rs89.27 lakh from Deoghar Treasury between 1991 and 1994. "The case was on excess withdrawal from Deogarh treasury".
On July 25, 1997, after a court issued an arrest warrant against Lalu, he resigned as CM - reportedly on advice of then West Bengal CM Jyoti Basu - and nominated wife Rabri Devi as his successor. He will be facing four other cases. The trial in two other cases is going on in special CBI courts of Ranchi.
In what sounded like his supporters protesting against his conviction, the former Bihar chief minister urged people of Bihar to maintain "calm and peace" after the judgement is delivered.
"Over three years after it was ousted from power, we still see one case after another coming out and courts are indicting and convicting them".
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He also allegedly said that he would be happy if an attack took place. "You all have brought this upon yourselves", the note said. The note also seemed to express anger over President Donald Trump's recent decision to recognize Jerusalem as Israel's capital.
There are six cases related to the fodder scam, and this is the second case in which Lalu has been convicted. In 2000, Lalu and Rabri surrendered before a CBI court.