CA's Ex-CEO Indicted on Fraud

Posted by samzenpus on Wednesday September 22, 2004 @04:40PM from the was-that-wrong dept.

An anonymous reader writes "CNN is carrying a story about how Sanjay Kumar, ex-CEO of Computer Associates, was indicted on fraud charges. Prosecutors said the long-running accounting fraud scheme featured what came to be known by Computer Associates employees as a "35-day month" because company books were routinely kept open until revenues exceeded projected goals. "The defendants cooked the books by simply keeping them open beyond the end of a fiscal quarter for however long it took to meet the analysts earning estimates," said Deputy Attorney General James Comey. Comey said by the time the "house of cards" collapsed, about $2.2 Billion in revenue was booked prematurely. Good thing CA settled it's case with the DOJ."

2 of 307 comments (clear)

Holy Cow by SaxMaster · 2004-09-22 17:06 · Score: 0, Troll

He can fly out of prison with those GIANT EARS of his :-P

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"Dancing is the vertical expression of a horizontal desire" --Robert Frost
Re:CA training support anecdote by BCW2 · 2004-09-23 00:10 · Score: 0, Troll

Don't worry, someone on /. will try to make it all Bush's fault anyway. Even with more CEOs in court than ever under this administration, the liberals say Bush does nothing to control business criminal activity. Find the logic.

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Professional Politicians are not the solution, they ARE the problem.