12 yrs in jail for former Computer Associates CEO
The former chief executive of Computer Associates International Inc. was sentenced to 12 years in prison and fined $8 million on Thursday in an accounting fraud scandal estimated to have cost investors $400 million at one of the world’s largest software companies. Mr Sanjay Kumar, 44, had pleaded guilty in April to obstruction of justice and securities fraud charges at the company, which since has been renamed CA Inc. “I know that I was wrong and there was no excuse for my conduct,” Mr Kumar told the judge while reading impassively from a statement at his sentencing at federal court in Brooklyn. “I do apologise for my mistakes and ask for forgiveness from all involved.” Under federal sentencing guidelines, Mr Kumar could have faced life in prison but the judge called that punishment unreasonable. Prosecutor Eric Komitee argued Mr Kumar should be severely punished as the architect of an elaborate cover-up that was “the most brazen in the modern era of corporate crime.” The defence sough...