Feeds

CA boss charges detailed

Unpleasant discovery

  • alert
  • submit to reddit

Build a business case: developing custom apps

Sanjay Kumar, the former boss of Computer Associates, has been accused of paying a $3.7m bribe in a failed attempt to cover up the company's dubious accountancy practices.

US prosecutors have filed revised indictments against Kumar and Stephen Richards, former head of worldwide sales, including securities fraud, conspiracy and obstruction of justice.

The changed indictment alleges Kumar gave the green light to a $3.7m fee to a man who was threatening to reveal the problems with CA's books.

Back in 2000 CA signed a multimillion dollar contract with "a nearly insolvent" customer and then backdated the payment so it hit targets for the previous quarter.

But "Individual #1", the boss of the company, wanted paying for helping CA out. Two CA executives flew to Hawaii to meet him and after further threats of exposing CA's practises Kumar agreed to pay him $3.7m for consultancy services which were never delivered, according to ITNews.com. More details here.

The two sides are currently in discovery, showing each other evidence, and will meet again in July.

CA reached agreement with the US government late last year and agreed to pay $225m.®

Related stories

CA's Clarke chills in the City
CA to restate five years of figures
CA boss admits long road to recovery

5 things you didn’t know about cloud backup

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.