Ex-Computer Associates CFO Avoids SEC Penalty

Law360, New York (March 31, 2011, 1:15 PM EDT) -- Convicted fraudster Ira Zar reached a deal with the U.S. Securities and Exchange Commission on Wednesday in New York that doesn't further penalize the former Computer Associates Inc. executive for his role in the company's $2.2 billion backdating scheme.

The final judgment was approved by Judge I. Leo Glasser of the U.S. District Court for the Eastern District of New York, who sentenced Zar to seven months in federal prison on related criminal charges in 2007.

Zar, who was Computer Associates’ chief financial officer, had pled...
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