Former Computer Associates CEO gets 12-year sentence for accounting fraud

[JURIST] Former Computer Associates [corporate website] CEO Sanjay Kumar [Wikipedia profile] received a 12-year prison sentence and an $8 million fine Thursday after pleading guilty in April to charges [press release; JURIST report] of securities fraud and obstruction of justice for his role in the company's revenue-swapping of $2.2 billion with another company in 1999 and 2000. Though Kumar could have faced a life sentence under federal sentencing guidelines, US District Judge Leo Glasser said that was unreasonable. Glasser noted , however, that Kumar "did violence to the legitimate expectations of shareholders."

In June, the company's senior vice president Thomas Bennett also pleaded guilty [JURIST report] to obstruction of justice charges. Former sales chief Stephen Richards also entered a guilty plea to several charges at the same time Kumar pleaded guilty. AP has more.

 

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