As a follow up to an earlier post on Sanjay Kumar, we now have the conclusion. Kumar, the former CEO for CA Inc was sentenced to 12 years in Federal prison today for a $2.2 billion accounting fraud.
As part of the accounting scheme, Kumar improperly booked software license revenue from 1999 to 2000 in order to meet Wall Street analysts’ profit expectations and then lied to investigators about it, the government said.Assistant U.S. Attorney Eric Komitee told the judge that Kumar’s actions represented “the most brazen and comprehensive obstruction in the modern era of corporate crime.”
Kumar is set to surrender on Feb. 27th, 2007.
Tags: CA, Sanjay Kumar, Federal Prison, Fraud
