by CIO Staff

Former CA CEO Kumar Gets 12 Years in Prison

Nov 02, 20061 min

Sanjay Kumar, the former chief executive of software firm CA, on Thursday was sentenced to 12 years in federal prison for his part in a $2.2 billion accounting fraud scandal at the firm, Reuters reports.

Kumar was also hit with an $8 million fine by U.S. Judge Leo Glasser, as well as three years of supervised release for each of the eight counts to which he pleaded guilty in April, according to Reuters. Those charges include conspiracy, securities fraud and obstruction of justice, Reuters reports.

The government accused Kumar of logging false licensing revenue numbers for the period between 1999 and 2000 to meet analysts’ earnings forecasts, as well as attempting to cover up the fraud by lying to company investors, according to Reuters.

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