by CIO Staff

Former CA CEO Kumar to Enter Guilty Plea

Apr 24, 20062 mins
IT Leadership

The former chief executive officer of business software firm Computer Associates International, Sanjay Kumar, is expected to enter a guilty plea in a Brooklyn, N.Y., District Court at 2 p.m. on Monday, in relation to charges that he was involved in a financial fraud scandal, The Wall Street Journal reports.

The news comes from sources close to the case, according to The Journal.

Attorneys representing Kumar and his co-defendant Stephen Richards, an ex-sales executive with Islandia, N.Y.-based Computer Associates, were not available for comment, The Journal reports.

Kumar was indicted on charges of financial fraud connected to the alleged back-dating of contracts that allowed the company to keep booking revenue long after a specific quarter ended, creating the illusion that it was meeting financial goals, according to The Journal.

The company, now titled CA, has corrected a number of erroneously stated revenue figures for past years, and has brought in new people to fill nearly all of its top management positions, The Journal reports.

A handful of former Computer Associates executives have entered guilty pleas in response to various federal charges, and some were expected to speak out against Kumar and Richards in court, according to The Journal.

Check out our CIO News Alerts and Tech Informer pages for more updated news coverage.