BusinessCompany NewsEx-Computer Associates sales chief jailed

Ex-Computer Associates sales chief jailed

Seven years in jail after pleading guilty to financial fraud

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

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