Charles Wang blamed for accounting fraud and to be sued
Accountancy Age, 16 Apr 2007
Charles Wang, co-founder of Computer Associates has been blamed for accounting fraud at the company following the release of a report by a special committee of the company.
The committee recommending that Wang be sued for damages and the value of company stock he received.
This comes at the same time that Wang's successor, former CA CEO Sanjay Kumar, was ordered to pay more than ₤500m in restitution to victims of securities fraud he committed while at the company.
Kumar also faces 12 years in jail following his conviction for obstruction of justice and securities fraud.
Further reading:
Chief exec ordered to pay victims of accounting fraud
CFO steps down at computing giant
Computer Associates executives plead guilty
The race to become the biggest firm on the planet...
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