MINEOLA, N.Y. — The former chairman and chief executive officer of a New York software company who orchestrated a $2.2 billion accounting fraud is out of prison.
Newsday reported March 17 that Sanjay Kumar, a Sri Lankan American, was released in late January. He served nearly 10 years.
Kumar, 55, was CEO when the Islandia-based company was known as Computer Associates. It now operates as CA Technologies.
Kumar's attorney says he is happy his client is home.
Kumar also is a former co-owner of the New York Islanders. He sold his interest in 2004 to Computer Associates founder Charles Wang.
Kumar pleaded guilty in 2006 to obstruction of justice and securities fraud charges.
He was sentenced in 2006 to 12 years in prison and fined nearly $8 million. He began serving his sentence in February 2007.
Federal prosecutors say he falsely reported revenue and earnings, then covered it up.
Kumar, formerly of Upper Brookville, was released from a minimum security satellite camp in Miami on Jan. 25, said Justin Long, a spokesman for the Federal Bureau of Prisons, according to the Newsday report.
Kumar’s wife, Sylvia, who lives in Naples, Florida, posted an image of a beach sunset on her Facebook page the day after her husband’s release, and a photo of the couple smiling together a week later, the report added.
“I always thought the sentence was too long, and I am happy that he is with his family because I know how important that was to him,” said Kumar’s attorney, Paul Shechtman of Manhattan.
A 2004 indictment charged that in 1999 and 2000, Kumar falsely reported more than $2 billion in quarterly revenue and earnings at Computer Associates to prop up the price of the company’s stock. In 2000, the firm claimed more than $6 billion in sales, Newsday reported.
Two weeks before his trial was scheduled to begin, Kumar pleaded guilty to securities fraud, conspiracy and obstruction. Kumar also agreed to pay $52 million in restitution to his victims, largely from the sale of his assets.
The government has the right to garnish 20 percent of Kumar’s future earnings, according to the sentencing agreement, the report said.
“It has been over 12 years since Mr. Kumar and other individuals responsible for these actions have had anything to do with the company,” said company spokesman Rita O’Brien in the Newsday report. “CA Technologies has moved well past that era.”