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CA's Kumar Ordered to Pay $1 Billion

Discussion in 'General Webmaster Helpdesk' started by rakib, Apr 15, 2007.

  1. rakib

    rakib New Member Webmaster

    A U.S. District Court judge has ordered the former CEO of CA Inc. to pay more than US$1 billion in restitution to victims of securities fraud he committed while at the company.

    CA has already repaid $225 million of that amount to a victim's fund. Sanjay Kumar must pay $52 million in the next 18 months, Judge I. Leo Glasser of the U.S. District Court for the Eastern District of New York ordered Friday.

    For full story at PC World - CA's Kumar Ordered to Pay $1 Billion

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