Ex CA chief Kumar pleads guilty
Sanjay Kumar, former CEO of CA Inc. pleaded guilty Monday to securities fraud, perjury and obstruction of justice relating to the costs of his role as $ 2.2 billion accounting scheme at the computer software .
Kumar, left, Computer Associates International Inc, as it was announced in June 2004, wrongly booked software license revenue from 1999 to 2000 with a view to achieving the analysts of Wall Street quarterly earnings expectations and then lied to investigators After the indictment.
In one case, prosecutors that Kumar was paid a client threatened to say that the government of a counterfeit software. The payment of $ 3.7 million was Kumar knew then that the investigation was underway against the company.
Stephen Richards, the former head of sales in California Inc (research), as the company now known as the guilty charges at a hearing before Judge Leo Glasser in U.S. District Court in Brooklyn.
“The guilty pleas put forward today by Computer Associates’ former CEO and its former head of large retailers in the world are the culmination of a successful investigation into the culture of corruption and fraud in Computer Associates, Roslynn mouse capita USA, Attorney for the Eastern District of New York, said in a statement.
The men, originally convicted for non-September 2004, was screened in court on May 8. The judges would not comment on why the men of their complaint, but noted another former CA executive, Tommy Bennett, was arrested and Friday for his role in the regulation.
“I know that my conduct was wrong … I apologize for my actions,” Kumar, was dressed in a dark suit and was with his hands behind his back, “said Court at the hearing, hearing that it took more than two hours.
Kumar, 44, and Richards, 41, both from the courtroom to comment, without asking them. The costs in the nine heads-count indictment against them range from conspiracy to commit securities fraud, conspiracy to obstruct justice for obstruction of justice.
Under the regulations, Kumar and other leaders of turnover in rear-contracts software license, so that revenue would be in an area where the turnover was needed to ensure that the Islandia, New York, established companies to meet or exceed Wall Street estimates, the indictment said.
In one case, Kumar flew to the company jet to Paris, where he personally negotiated a licensing agreement of $ 32 million. The contract was concluded with retroactive effect to the fact that he had the impression that they completed and signed on June 30, 1999, the government said.
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