Both men face charges including securities fraud and obstruction. The Journal explained Kumar's alleged involvement in the massive accounting shenanigans: "CA, which specializes in back-office software for the computer infrastructures of big corporations, was once one of high technology's hottest success stories, and Mr. Then longstanding suspicions of accounting irregularities gelled into a government investigation that began in early 2002 and focused on the backdating of contracts to meet financial projections. Kumar had worked his way up from software writer to lead the company, and as recently as this spring, remained at the helm, pledging that he was cleaning house and reforming internal governance."Unlike other recent cases in which the government charged corporate chieftains with countenancing, or hiding, frauds, the indictment against Mr. It is located at the bottom right corner of your screen.Click on the link "Change date and time settings" if you are using Windows Vista or higher.“I sincerely regret not doing that.” Outside the courtroom, Assistant U. Attorney Michael Cornacchia told reporters that the pace of the government’s case “has taken a rapid turn.” According to Newsday, Cornacchia added that the government’s case now has evidence that the securities fraud conspiracy took place at least “from 1998 to the end of 2000.” In October, Computer Associates said the improprieties took place primarily during fiscal 2000.The practices “were ongoing when [Rivard] got there,” in 1998, said Cornacchia, according to the Long Island newspaper.It's fall and the leaves aren't the only things starting to drop -- so are more executives who are falling from grace as swashbuckling accounting methods of the 1990s continue to come under the microscope of Uncle Sam.
(We’ve all seen that particular movie in the past couple of years, eh?Click on the button that says "Change date and time." You will find this button under the tab "Date and Time."Ignore Steps 2 and 3 if you are using Windows XP or lower.Choose a date and time by clicking on the little up and down arrows next on the calendar and the clock. Comey, chair of the president's Corporate Fraud Task Force, in a statement.The Financial Times described the significance of the case: "The fraud charges, which include accusations against CA, cap the most widespread case of alleged accounting fraud to emerge from the technology bubble." "The indictment came as CA, one of the country's largest software makers, was also charged with obstruction and securities fraud but avoided an indictment after reaching a deferred-prosecution arrangement with the Justice Department. Kumar was named, along with former head of sales Stephen Richards, in a 10-count indictment yesterday. District Court in Brooklyn," the Wall Street Journal said, noting that through their lawyers, Kumar and Richards denied any wrongdoing.