CA goes after co-founder following fraud report
Charles Wang blamed for accounting fraud and to be sued
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