by CIO Staff

Former CA Business Exec Enters Guilty Plea

Jun 22, 20062 mins
IT Leadership

Thomas Bennett, the 50-year-old former CA business executive who’s accused of attempting to pay off would-be witnesses for their silence in a recent stock scandal, pleaded guilty on Wednesday to charges that he obstructed justice by offering the bribes, the Associated Press reports via The New York Times.

Bennett, the Islandia, N.Y.-based software producer’s former senior vice president of business development, is facing as many as five years in jail, and he’s to be sentenced on Oct. 12, according to the AP.

Bennett is charged with conspiring in conjunction with other executives, including CA’s then-CEO Sanjay Kumar, to falsely present revenue figures between 1999 and 2000 to boost the firm’s stock price, the AP reports.

When the scandal first started to come apart, Kumar gave Bennett the OK to pay out millions of dollars to clients to hush them up, and keep them from notifying the Securities and Exchange Commission or the FBI of the accounting fraud, according to the AP.

Last April, both Kumar and Stephen Richards, CA’s former head of worldwide sales, pleaded guilty to charges of obstruction of justice and securities fraud, and they’re expected to be sentenced on Sept. 12, the AP reports.

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