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Sarbanes-Oxley News & Developments
Guilty Pleas by Computer Associates TrioFederal charges stemmed from premature recognition of revenue of the company.
> > Former CFO Ira Zar pled guilty to conspiracy, securities fraud, and obstruction. David Rivard, former VP of Finance, and David Kaplan, former Division VP of Finance, each pleaded guilty to one count of conspiracy to commit securities fraud and one count of conspiracy to obstruct justice. Zar faces up to 20 yrs in prison, and Rivard and Kaplan face up to 5 yrs in prison and a fine of up to $250,000 on each of the two counts. In addition, the trio settled civil fraud charges with the SEC.
Source: CFO
Published:2004-04-09
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