Former CA boss Kumar accused in fraud scandal

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Former CA boss Kumar accused in fraud scandal

Computer Associates' former chief executive Sanjay Kumar was in court last week charged with fraud and obstruction of justice in a multimillion-pound accounting scandal.

Kumar and Stephen Richards, CA's former global sales chief, pleaded not guilty and Stephen Woghin, former legal officer and senior vice-president at CA, pleaded guilty to taking part in what prosecutors claimed was a company-wide accounting fraud.

CA, the fourth largest software company in the world, reached an agreement with the US Department of Justice last week to pay £125m compensation to victims over 18 months in return for the Department of Justice agreeing not to prosecute the company.

CA chairman Lewis Ranieri said, "With these agreements, CA has taken a critical step in closing this deeply troubling chapter in its history."

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