CA's ex-CEO is indicted on fraud

[bnashier]

EDT September 22, 2004: 6:05 PM

Sanjay Kumar faces fraud, obstruction charges after the company reaches $225M settlement.

WASHINGTON (CNN) - The former chief executive officer, Sanjay Kumar, of Computer Associates was indicted by a federal grand jury in New York Wednesday for allegedly participating in a massive fraud conspiracy and an elaborate cover up of a scheme that cost investors hundreds of millions of dollars.
_________

In a similar case, Mr. Naveen Jain of Infospace also had faced a similar fate.

Some Indian entrepreneurs really found a new meaning to the 'American Dream' to get rich by whatever means they could.

[anilkc]

Sanjay Kumar is not an Indian, he is a sri lankan.

[bnashier]

*********
O' ya, what a relief! Next will be a similar note on Naveen Jain. Good thinking!




anil chaudhary (Sep 23, 2004 07:50 a.m.):
Sanjay Kumar is not an Indian, he is a sri lankan.

[anujkumar]

I do not see any point of putting "Indian" in the last sentences of post #1. (Like you would see no other journalist reporting on this case would do). It gives an impression that "American Dream" is great debt on Indians, and they have more reasons than rest of American to be faithful to it.

It is just another example of corporate crime in home of free, the great USA. Discussing corporate crime, in general is more meaningful. He didn't use, in anyway imaginable, his ethnicity to do what he did.

Isn't it a bit ironic, when such incidents happen in India, people try to blame it all on the system vs. when it happens here, it is all ill deed of the people who use a great system? Now this is an additional point to ponder, the corporate American system give rise to the possibility of such betrayal, which in no way suggesting that there is a better one.

[anilkc]

It was just for info and not an argument for or against.

Budh Nashier (Sep 23, 2004 08:14 a.m.):
*********
O' ya, what a relief! Next will be a similar note on Naveen Jain. Good thinking!




anil chaudhary (Sep 23, 2004 07:50 a.m.):
Sanjay Kumar is not an Indian, he is a sri lankan.

[shokeen123]

anil chaudhary (Sep 23, 2004 07:50 a.m.):
Sanjay Kumar is not an Indian, he is a sri lankan.


Anil, unfortunately the Westerners don’t have a very discriminating imagination when it comes to making a geographical distinction?

Sujata

[anilkc]

on a lighter note..now we have a desi too in company of Martha Auntie, Enron and tyco bosses.

[shokeen123]

anil chaudhary (Sep 23, 2004 12:55 p.m.):
on a lighter note..now we have a desi too in company of Martha Auntie, Enron and tyco bosses.

Anil, I will have to agree on that one… all part of the free-enterprise, capitalistic, American Dream!

Sujata

[rkumar]

reaching to one's eands has become more important than the means to achieve them. This is in all walks of like and in every society;

1. Those who can pay more, can have darshan of Lord at Tirupati in faster lane..

2. I used to work at Tyco. I only know how ruthlessly they layed off the workers and paid hardly any benefits. Whereas on the other hand the CEO spendt more than a million $$s on the birthday of his girl friend...But again Thishappens every where. Look at Queen Jailalitha, Madam Marcos in Philipine, Suharto in Indonesia...

Power makes people corrupt and absolute power makes them corrup absolutely..conversly its the corrupt who have the highest chances of reaching into power...

Rajendra

[anilkc]

At least in US they are brought to justice someday. Look at Enron, its dead and bosses are ruined for life, but in India, not even a scratch to those envolved with Enron, though everyone knew abt their misdeeds long before the law caught up with them in US.

[anujkumar]

How do we know that "everybody" is brought to justice. There are/may be, so many going un-noticed. It is interesting to see, when does bubble explode: only when the company is ruined and share holder are dieing to find out, who looted them. When, victims are small time investors and general public, or company otherwise does reasonable, it might not catch anybody's eye.

Indian is handling it's share of enron, martha and so forth!


anil chaudhary (Sep 24, 2004 10:33 a.m.):
At least in US they are brought to justice someday. Look at Enron, its dead and bosses are ruined for life, but in India, not even a scratch to those envolved with Enron, though everyone knew abt their misdeeds long before the law caught up with them in US.

[anilkc]

Every criminal cannot be brought to justice anywhere. It never happend and it will never happen. The issue is not of "un-noticed" crimes, the issue is what justice is done once the crime is detected.

Its human greed, as long as I am getting a part of the loot, its fine.