Kumar completes US$52M restitution payment for fraud

Ex-CA head 'holding up just fine' in prison: lawyer

Jailed former CA chief executive Sanjay Kumar has made the final US$2 million (NZ$2.5 million) payment of the US$52 million he owed in restitution for his involvement in a US$2.2 billion accounting fraud at the software company, his attorney says.

"He's holding up just fine, and doing the best he can while taking courses and doing a few jobs while there," his attorney, Lawrence McMichael, said on Monday.

"He's actually teaching courses although I'm not sure what," he added. "He's keeping very busy, trying to make a difference and is stuck there for the foreseeable future as he awaits his appeal."

Kumar is jailed at the federal Fairton Correctional Institution in south central New Jersey where he has an official release date of January 25, 2018, according to the Bureau of Prisons website. Another attorney, Paul Schechtman, is seeking to reduce his prison term.

Kumar reported to prison in August, after he pleaded guilty to fraud and obstruction of justice in 2006. His final payment on the US$52 million, made in late December, came a year early and ended a freeze that had been placed on his holdings, McMichael said. The federal government can still garnish 20% of his wages, however.

Kumar's guilty plea reduced his original restitution of US$1.02 billion to $52 million.

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