Ex-Computer Associates sales chief jailed

Seven years in jail after pleading guilty to financial fraud

Written by AccountancyAge.com

Stephen Richards, 41, a New Zealander and former head of worldwide sales at Computer Associates, has been sentenced to seven years in jail for his role in the company falsely reporting hundreds of millions of dollars in revenue.

Richards pled guilty to financial fraud charges in April and was sentenced this week to 84 months in prison followed by three years' supervised release.

He will join Sanjay Kumar, the former chief executive officer of Computer Associates, behind bars - Kumar was sentenced to 12 years in prison earlier this month and fined $8m.

Richards and Sanjay Kumar both pleaded guilty to securities fraud charges including falsely reporting hundreds of millions of dollars in revenue before licensing agreements were finalized to beef up quarterly financial results.

Further reading:

CFO steps down at computing giant 

Computer Associates executives plead guilty

E-trail leads straight to court

Advertisement

Enjoyed this article? Help spread the word:

Comments

White papers

Related jobs

More Accounting jobs

Spotlight

Management Consultancy Top 75

21st annual survey shows another £1bn on revenues

bryan clark, chief information officer at kpmg europe

Profile: Bryan Clark, chief information officer at KPMG Europe

Getting the right infrastructure is instrumental in consolidating KPMG’s European...

Apprentices, Arnie and Archos in the latest YP

September issue of Young Professional appraises the year for our...

Find your next job

Find your next job

Advertisement

Salary Checker

Newsletters

Sign up here for the very latest news delivered to your inbox. Choose from the following options:

Search white papers

Search white papers

Advertisement

Have your say

Should fair value accounting be suspended in the wake of the market crisis?
Yes, it's a big part of the problem
No, don't shoot the messenger

Job of the week

More finance jobs

Advertisement

Your next job