CA Ex-CEO To Pay $800M For Fraud Scheme

Law360, New York (April 13, 2007, 12:00 AM EDT) -- Former CA Inc. chief executive Sanjay Kumar has agreed to fork over a whopping $800 million in restitution to victims of a $2.2 billion accounting fraud scandal at the company.

Judge I. Leo Glasser of the U.S. District Court for the Eastern District of New York is expected to consider the terms of a proposed agreement Kumar has reached with prosecutors, according to court documents filed April 5.

The proposed agreement will see Kumar putting $798.6 million into a fund that has been established to reimburse...
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