The Department of Justice is expected to announce Wednesday a settlement with Computer Associates after months of investigation into an alleged $2.2 billion fraud by the company. The settlement is also expected to include a plea bargain with the company's former top counsel Steven Woghin, with criminal charges against other executives expected to follow on Thursday.

Company officials were expected to appear for arraignment this morning before US District Judge Leo Glasser in New York City. Under the agreement, Computer Associates will face a one- or two-year probation, at least a $200 million fine and monitoring of its accounting by an independent overseer. The company is also expected to settle charges with the Securities and Exchange Commission. New York's Newsday has more.