By Will Sturgeon, 3 November 2006 15:05
NEWS
Sanjay Kumar, the former CEO of CA, has been sentenced to 12 years in prison for his part in a $2.2bn accounting fraud at the company.
The lengthy prison sentence handed to Kumar, 44, is backed up by an $8m fine and brings to a conclusion a legal process that began almost three years ago.
Kumar escaped a life sentence, the maximum sentence which could have been handed down for his crimes. He was ordered to report to a federal prion in February 2007 to begin serving his sentence.
It's unlikely to be much consolation but Kumar's sentence is also half of that handed to Bernie Ebbers, the former WorldCom boss, and also Jeffrey Skilling, the disgraced Enron CEO, who received 25 years and 24 years respectively.
Kumar pleaded guilty to eight counts and apologised to the court for his "mistakes and conduct".
Kumar left CA in June 2004 having already resigned his post as chairman and CEO the previous April. He was formally indicted in September 2004.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below