Former Computer Associates CEO Gets 12 Years
This guy was more crooked than Ken Lay. Kumar actively participated in the fraud and was adamant about pushing his illegal book keeping tactics on his sales staffers and other executives.
From the AP here:
NEW YORK – The former chief executive of Computer Associates International Inc. was sentenced to 12 years in prison and was fined $8 million on Thursday for his role in a massive accounting fraud scandal at one of the world’s largest software companies.
Sanjay Kumar, 44, had faced up to 20 years behind bars after pleading guilty in April to obstruction of justice and securities fraud charges at the company, which since has been renamed CA Inc.
U.S. District Judge Leo Glasser said though Kumar was not a violent criminal, he “did violence to the legitimate expectations of shareholders.”
The indictment charged that Kumar and other executives instructed salespeople to complete deals after the quarter had closed a practice known within the company as the “35-day month” and “cleaned up” contracts by removing time stamps from faxes.