Resignation
Kumar resigned as chairman and chief executive in April 2004, following an investigation into securities fraud and obstruction of justice at Computer Associates. He remained with the firm in the new position of Chief Software Architect for about six weeks before leaving the firm altogether on June 4, 2004. A federal grand jury in Brooklyn indicted him on fraud charges on September 22, 2004. Kumar pled guilty to obstruction of justice and securities fraud charges on April 24, 2006. On November 2, 2006, it was reported that he was sentenced to 12 years in prison and fined $8 million for his role in a massive accounting fraud at Computer Associates. As of May 2012, Kumar is housed at the Federal Correctional Institution in Miami, Florida, with a projected release date of January 25, 2018.
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Famous quotes containing the word resignation:
“How could a man be satisfied with a decision between such alternatives and under such circumstances? No more than he can be satisfied with his hat, which he’s chosen from among such shapes as the resources of the age offer him, wearing it at best with a resignation which is chiefly supported by comparison.”
—George Eliot [Mary Ann (or Marian)
“Resignation, not mystic, not detached, but resignation open- eyed, conscious, and informed by love, is the only one of our feelings for which it is impossible to become a sham.”
—Joseph Conrad (1857–1924)