Sorry, I thought this was the guy who was looking for White Castle with Harold.
Seriously who was using their junk by 2000?
What was the last software product actually built by CA?
This just reported on the Wall Street Journal site:
"...Sanjay Kumar, former chief executive officer of Computer Associates International Inc., has pleaded guilty to obstruction of justice and securities fraud charges for his role in the massive accounting scandal..."
It will be interesting to see what the penalties are for these crimes. Also of interest, their former CFO named Ira Zar apparently completed prison for his role in the scam and was recently released. According to the annual reports, his sister also worked at CA at the time. She wasn't implicated in any of these crimes. Hopefully this financial nightmare for folks interested in the technology sector will be resolved soon.
~ Blue Jays ~
Also from today's Wall Street Journal related article. Highlighted areas are mine:
The plea ends the career of a Sri Lankan immigrant who climbed to the top of the corporate ladder and made a fortune in the U.S. high-technology boom. Mr. Kumar now faces a maximum 90 years in prison if the eight counts to which he pleaded result in consecutive sentences. However, lighter sentencing of 10 to 30 years might be dictated under federal guidelines. 'Your honor, my conduct was wrong. I take responsibility for participating in this practice and I apologize for my actions,' Mr. Kumar told Judge I. Leo Glasser in U.S. District Court in Brooklyn, N.Y., yesterday. Mr. Wang, 60, first spotted the younger Mr. Kumar when Mr. Kumar was a poor teenage immigrant. The two immigrants eventually became wealthy together, once sharing with another executive a $1.1 billion award of shares in the company. They are also co-owners of the New York Islanders professional hockey team. Mr. Wang hasn't been charged with any wrongdoing..." [/snip]
"...Sanjay Kumar, the former chief executive of CA Inc., pleaded guilty to securities fraud and obstruction of justice charges stemming from a scheme that used backdated contracts to falsify the U.S. company's quarterly earnings reports.
So this selfish nutcase Sanjay Kumar is paid several million in annual salary, earned another $300+ million in the stock award, had benefits out the wazoo, and yet he STILL defrauded honest stockholders and stole millions of dollars from them? He isn't sorry...he is just sorry he got caught. He needs to go to prison for a long time.
~ Blue Jays ~