Stephen Richards, formerly
Computer Associates chief salesman, was
sentenced to seven years in prison in relation to his role in the $400 million fraud perpetrated at the business software maker. Richards entered a guilty plea
back in April on a variety of charges, including: securities fraud, obstruction of justice and perjury.
A handful of other
former CA execs including
CEO, Sanjay Kumar and General Counsel, Stephen Woghin have also
plead guity and are awaiting sentencing With Richards' help, CA artificially inflated its revenue by some $2 billion over 1999 and 2000 resulting, ultimately, in a $400 million loss for shareholders. CA itself has avoided criminal charges in the case by willingly setting up a $225 million restitution fund and
cooperating with federal investigators.
-- MDT