Welcome!

Java IoT Authors: Sematext Blog, Pat Romanski, Liz McMillan, Carmen Gonzalez, AppNeta Blog

Related Topics: Java IoT, Microservices Expo, ColdFusion, PowerBuilder, Linux Containers, IT SOLUTIONS GUIDE

Java IoT: Article

Sanjay Kumar "Betrayed the Trust of the Board," Says CA's Attorney

But Ex-CEO Pleads Not Guilty to Conspiracy and Obstruction of Justice

Related Links:
  • Not Guilty," Both Kumar and Richards Tell Judge
  • "Deferred Prosecution" Could Cost CA $400 - $500 Million
  • Wanted, on a Platter, by US Govt.: Head of CA's ex-CEO Sanjay Kumar

    Although his attorney insists that he "denies any wrongdoing and expects to be exonerated of all charges," the former chairman and CEO of Computer Associates, Sanjay Kumar, has been charged with conspiracy and obstruction of justice in an indictment unsealed yesterday. Both Kumar and his one-time top lieutenant, former executive vice president of sales Stephen Richards, were charged with 10 counts each of securities fraud and obstruction of justice.

    Both men today pleaded not guilty to both the fraud and the obstruction charges and Judge Leo Glasser ordered each executive to post $5 million in bail - money that money will be secured against their homes.

    As we reported here at SYS-CON.com already last week, while charging Kumar the US government has agreed to defer prosecution of the company itself for 18 months in an unusual move known as "deferred prosecution."

    The idea of this is to give Computer Associates time to show that it has cleaned up its act, and thereby avoid punishing CA shareholders twice over - it being understood that they have already suffered once over through the share price hit that CA took when it revealed back in April that it was restating its financial results from 2000 and 2001. 

    CA, which has roughly $2.17 billion in the bank, is required as part of the deferred prosecution arrangement to pay $225 million cash and 5.7m shares to investors in compensation, explained Deputy Attorney General James Comey at a news conference yesterday in Washington.

    Deferred prosecution will give CA "the opportunity to demonstrate that it has a culture that can be saved," Corney said. 

    "Our focus," he continued, "is not on doing harm for harm's sake."

    He added though that, if CA didn't take steps to mend its egregious ways, "the consequences will be severe." The software company has been accused of improperly booking $2.2 billion in revenues during 2000-2001, and obstructing the subsequent investigation procedures.

    CA has accepted responsibility for the improper accounting practices and misstatement of revenue from Jan. 1, 1998, through Sept. 30, 2000, and for impeding and failing to cooperate with the Department of Justice and the SEC investigations.  "This conduct was wrong," said CA chairman Lewis Ranieri in a conference yesterday.  

    "I want to be very clear on this point: We fully support the government's efforts to bring wrongdoers to justice," Ranieri added. 

    While Kumar and Richards pleaded not guilty today. Steven Woghin, the company's onetime top lawyer and former general counsel , has in contrast already entered a guilty plea to securities fraud conspiracy and obstruction of justice charges and faces a long jail stretch.


    Related Links:

  • Not Guilty," Both Kumar and Richards Tell Judge
  • "Deferred Prosecution" Could Cost CA $400 - $500 Million
  • Wanted, on a Platter, by US Govt.: Head of CA's ex-CEO Sanjay Kumar
  • More Stories By Jeremy Geelan

    Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

    Comments (5) View Comments

    Share your thoughts on this story.

    Add your comment
    You must be signed in to add a comment. Sign-in | Register

    In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.


    Most Recent Comments
    a b 03/06/08 03:12:19 PM EST

    Sanjay Kumar, the Computer Associates crook and now jailbird, was son-in-law of Charlie Wang, who started CA. CA treated employees like sh*t. Sanjay commited securities fraud and duped his shareholders.

    We invite people like this to come here from foreign countries and they use the American opportunity to rape and pillage American workers and shareholders alike.

    Mike Flanaghan 09/24/04 09:40:47 AM EDT

    As a former employee of CA,there were violations and deceptions all the way to the Tampa Call Center. From having open alcohol on the Sales Floor during close dates to
    firing violations(such as military employees being let go once it was known they were to be deployed overseas).
    There were mgr.to rep.intimidations, yelling and generally unprofessional dealings. ISO regulations were violated and inspections padded. Sales mgrs.routinely encouraged stretching the truth to get a sale.
    There's no bitterness, since resigned on my own after wanting to work in a better environment.

    severanceforsk 09/23/04 09:38:41 AM EDT

    Here is something people may be overlooking...

    Sanjay will lose his overbloated severance package since he was indicted.

    CA has been holding the money portion back waiting for this. He also loses his payments that CA would make for office space and an assistant.

    dreamgolf 09/23/04 09:33:55 AM EDT

    I suspect that the SEC will tap existing CA personnel for info that will help slam the door shut on Kumar and I suspect eventually Wang. Of course, if Sanjay sings like a canary and tells on everyone, a few more still with the company will fall.

    Masseur73 09/23/04 05:58:49 AM EDT

    Let's be clear here. CA was only doing what most IT companies do to some degree, that is booking late revenue to massage its quarterly results.

    Kumar's problem arises 1. from the massive scale of the massage and 2. from the sizable bonus he got that related to the then-boosted results.

    It's the implication that he conspired to massage the figures for personal benefit that's cost him his job. Very bad move.

    @ThingsExpo Stories
    "IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
    "We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
    Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
    Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
    We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
    Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
    What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
    20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
    Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
    The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
    You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
    The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
    "ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
    Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
    Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
    "Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
    More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
    Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
    Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
    Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...