Beginning in 2007 he spent 44 months in Taft Correctional Institution in Taft, California, before being re-sentenced to time served in 2010.Stephen Donald Richards was born in Lower Hutt, New Zealand on February 7, 1965 and is the oldest of three siblings."The defendants are accused of perpetrating a massive accounting fraud that cost public investors hundreds of millions of dollars when it collapsed.Then they allegedly tried to cover up their crimes by lying," said Deputy Attorney General James B.Richards has been married twice, and has five children.After graduating from Avondale College with a degree in Business Administration he spent a short period of time at Ernst & Whinney (now Ernst & Young), and then began his career at Computer Associates beginning at the helpdesk as a Telephone Support Technician in 1988, Post-Sales Technician in 1989, Pre-Sales Consultant in 1990, Sales Executive in 1991, State Manager (Queensland) 1992, Managing Director (New Zealand) 1993, Managing Director (Australia and New Zealand) 1995, Senior Vice President – Sales (North East, South East, South Central US and Pacific Rim) 1998, Senior Vice President – Sales North America 1999, and Executive Vice President in 2000.Both men face charges including securities fraud and obstruction. The Journal explained Kumar's alleged involvement in the massive accounting shenanigans: "CA, which specializes in back-office software for the computer infrastructures of big corporations, was once one of high technology's hottest success stories, and Mr. Then longstanding suspicions of accounting irregularities gelled into a government investigation that began in early 2002 and focused on the backdating of contracts to meet financial projections. Kumar had worked his way up from software writer to lead the company, and as recently as this spring, remained at the helm, pledging that he was cleaning house and reforming internal governance.
Via Bloomberg: CA Inc.'s former Chief Executive Officer Sanjay Kumar was sentenced to 12 years in prison for leading a .2 billion accounting fraud at the software maker. The sentence fell short of the longest recent prison terms for executives convicted in the crackdown on corporate fraud after the collapse of Enron Corp. Bernard Ebbers, World Com chairman, got 25 years; Jeffrey Skilling, former Enron Corp.
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If notability cannot be established, the article is likely to be merged, redirected, or deleted. Richards is a New Zealand-born technology industry business leader.
Comey, chair of the president's Corporate Fraud Task Force, in a statement.
The Financial Times described the significance of the case: "The fraud charges, which include accusations against CA, cap the most widespread case of alleged accounting fraud to emerge from the technology bubble." "The indictment came as CA, one of the country's largest software makers, was also charged with obstruction and securities fraud but avoided an indictment after reaching a deferred-prosecution arrangement with the Justice Department. Kumar was named, along with former head of sales Stephen Richards, in a 10-count indictment yesterday. District Court in Brooklyn," the Wall Street Journal said, noting that through their lawyers, Kumar and Richards denied any wrongdoing.