Kumar admits fraud at CA
April 25, 2006Sanjay Kumar, the former CEO at Computer Associates, admitted to perpetrating a multi-billion dollar fraud while he was at CA. So at least the government convicted one of the crooks caught up in the whole accounting-fraud thing. Remains to be seen if they’ll get the Enron guys, Ken Lay and Jeff Skilling.
Kumar is part owner of a couple pro sports teams, including the Islanders. He’s now an admitted felon, I wonder if the leagues will make him sell his stake? Kumar’s fraud is almost breathtaking in its scope and audacity–if baseball can ban Pete Rose for making a few bucks on gambling surely the NHL will have to ban Kumar from ownership after he admitted to a fraud that cost a few billion dollars. Unless there’s a double-standard when it comes to white-collar criminals like Kumar.
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