Former CEO Agrees to Pay $800 Million
Posted Apr 13, 2007 7:55 AM CST
By Debra Cassens Weiss
The former chief executive of Computer Associates has agreed to pay almost $800 million in restitution to investors who lost money because of accounting fraud. But Sanjay Kumar will be able to pay only about $52 million this year, the New York Times reports.
Kumar is scheduled to begin a 12-year prison term this month for conspiring to inflate sales figures at the software maker and impede the resulting investigation.
The company has already paid $225 million to a restitution fund.