Computer Associates Ex-CEO Pleads Guilty To Fraud

Law360, New York (April 24, 2006, 12:00 AM EDT) -- The embattled former chief executive of Computer Associates International Inc. pled guilty Monday to obstruction of justice and securities fraud charges related to the company’s $2.2 billion accounting scandal.

Sanjay Kumar, who left the software company now known as CA Inc. in June 2004, admitted to cooking the books in order to boost company revenue and meet Wall Street targets.

"Your honor, my conduct was wrong. I take responsibility for participating in this practice and I apologize for my actions," Kumar said to the judge, referring...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.