Seven years for Stephen Richards
LATEST NEWS
- Video will drive UFB uptake, but NZ lacks content choices: ComCom || 1
- TelstraClear's half-year revenue drops by 4 percent, but telco posts $1m profit
- Peter Finch leaves CIO post at Gen-i || 1
- 2degrees announces 875,656 customers
- NZ Fauna app fills 'crazy' lack of animal info || 4
- Megaupload interest a mixed blessing for Pirate Party || 2
SUBSCRIBE
Computerworld is New Zealand's only specialised information systems fortnightly. Subscribe now for $100 (23 issues) and save more than 37% off the cover price!
SIGN UP
CA's Kiwi former global head of sales gets seven years after pleading guilty to fraud
By Computerworld Staff | Auckland | Wednesday, 15 November, 2006
For his part in a fraud estimated at US$2.2 billion, the former Kiwi head of sales at CA has been jailed for seven years.
In April, Stephen Richards pleaded guilty to conspiracy, securities fraud, perjury and obstruction of justice. His former boss, Sanjay Kumar, was earlier sentenced to 12 years.
Reuters news agency reports US District Judge I Leo Glasser describes Richards as a late participant in the scheme and so not deserving of the same sentence as Kumar. "The conspiracy was not one of which ... Richards was a founding member," Glasser is reported to have said.
Reuters says because Richards is a native of New Zealand and therefore a "resident alien" in the US, he is not eligible to serve in a minimum security prison. His lawyer requested that he be sentenced to Taft Correctional Institution in Taft, California, which is a privately run facility.
The judge is reported to have said the sentence will have a lasting impact on Richards' children, who live in Australia.
Richards is due to report to prison on February 27.
MOST POPULAR
Social Media @Computerworld NZ
Computerworld NZ has now reached LinkedIn! Join to expand your networks and meet others interested in information systems.
