Software maker CA is no longer being investigated for the accounting irregularities that sentenced its former chief executive to 12 years in prison.

The company has announced that it has satisfied the terms of a deferred prosecution agreement and pending charges against it have been dropped.

Former chief executive Sanjay Kumar was found guilty of helping inflate the company’s sales figures in 1999 and 2000, lying to federal investigators and authorising a bribe to potential witnesses.

He also wiped clean the hard drive of his computer before government officials could confiscate the machine.

‘I am also very pleased that CA has successfully concluded the deferred prosecution agreement,’ said CA president John Swainson said.

‘As a result of the hard work of all CA employees, we are now a stronger company and are moving forward with a sense of vigour and enthusiasm.’

In announcing the end of the legislative process, the company has said full year sales are solid and look good for the year ahead. Sales rose five per cent $3.9bn (£2bn) and expected to grow throughout the coming year.

CA has also said it will re-purchase up to $500m (£251m) in stock, saying it demonstrates confidence in its long term business position.