Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TDS :: cpt :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit :: articles on VAT and GST in India
 
 
News Headlines »
 10 ways you get benefited from filing your tax return
 Returns under CGST Act,2017 with Rules
 Ten facts to know about filing income tax return this year
 The Ten Commandments of Tax Filing
 How to claim income tax refund
 How to time your buys to have best of two tax regimes
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months
 Top 5 common mistakes to avoid while filing your income tax returns
 GST rollout on July 1: Deadline for filing tax returns extended

CAs Sanjay Kumar gets 12 yrs in US for accounting fraud
November, 04th 2006

CA Inc.s former Chief Executive Officer Sanjay Kumar was sentenced to 12 years in prison for leading a $2.2 billion accounting fraud at the software maker.

US District Judge I Leo Glasser imposed the prison sentence and an $8 million fine in Brooklyn, New York, and ordered Kumar, 44, to report to a federal prison by Feb. 27.

Kumar pleaded guilty in April to charges including conspiracy, fraud and obstruction of justice.

His cupidity calls for a meaningful sentence, the judge said. Glasser noted he didnt impose the life sentence called for by federal guidelines and called imprisonment not an appropriate measure of promoting rehabilitation.

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. in 2001.

Bernard Ebbers, WorldCom chairman, got 25 years; Jeffrey Skilling, former Enron CEO, more than 24 years; John Rigas, Adelphia Communications Corp founder, 15 years; and L. Dennis Kozlowski, former chairman and CEO of Tyco, as long as 25 years.

Prosecutors said Kumar and other CA executives backdated contracts to inflate revenue at the Islandia, New York-based company, formerly Computer Associates International Inc., the worlds second-largest maker of mainframe computer software. I apologise to the court for my mistakes and conduct, Kumar said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions