Enron's Jeffrey Skilling and Tyco's Dennis Kozlowski have a new buddy to welcome in jail — former Computer Associates International CEO Sanjay Kumar. He was sentenced to 12 years in prison and fined $8 million on Thursday, Nov. 2, for obstruction of justice and securities fraud. Kumar helped engineer a $2.2 billion accounting fraud that
helped crumble Computer Associates, now known as CA Inc. Indicted in September 2004 on financial fraud, Kumar orchestrated a scheme under which the software company allegedly backdated contracts to allow it to continue booking revenue after the quarter's end in order to help it appear to meet financial expectations. During the early investigations, Kumar denied wrongdoing at CA and continually bragged about the company's ethics. "I truly am committed to be the gold standard for corporate governance," he told The Deal in November 2002. But as evidence mounted, Kumar was forced to plead guilty in April 2006. "I know that I was wrong and there was no excuse for my conduct," Kumar said to the judge at his sentencing, according to the Associated Press. — Gerald Magpily
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