Bye Bye Mr. Kumar!!

For those of you familiar with Computer Associates, I'm sure you'll find pleasure in this story! I do!!!!
Ex-Software Executive Begins Prison Term
Sign In to E-Mail or Save This Print Reprints Share
DiggFacebookNewsvinePermalink
By REUTERS
Published: August 15, 2007
Sanjay Kumar, former chief executive of Computer Associates, now known as CA Inc., began serving a 12-year prison term yesterday for his role in a $2.2 billion accounting fraud at the software company.
Mr. Kumar, 45, reported to a federal prison in Fairton, N.J., said Mike Truman, a spokesman for the Federal Bureau of Prisons.
He will serve his sentence at a minimum-security federal prison camp there.
Mr. Kumar pleaded guilty in April 2006, two weeks before his trial was to begin, to charges including conspiracy, securities fraud and obstruction of justice stemming from an accounting scandal that cost CA shareholders more than $400 million.
When he pleaded guilty, Mr. Kumar admitted that he had improperly booked software license revenue to meet Wall Street profit targets and then lied to investigators about it.
This year, Judge I. Leo Glasser of Federal District Court in Brooklyn approved a settlement requiring Mr. Kumar to pay nearly $800 million to victims of the fraud. Mr. Kumar agreed to pay $52 million by the end of next year by liquidating assets, including luxury cars and a yacht.