Sharing best practice 101

Here's one from the the vaults - its Charles Wang, then CEO of Computer Associates, and Satyam's former chairman B Ramalinga Raju in happier times at the signing of an agreement between the two companies back in 2000

Tags: CA IncorporationCrimeFraud
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Sharing best practice 101
By  Mark Sutton Published  February 7, 2009

Here's one from the the vaults - its Charles Wang, then CEO of Computer Associates, and Satyam's former chairman B Ramalinga Raju in happier times at the signing of an agreement between the two companies back in 2000.

I'd like to hear a conversation between the two now. Raju is of course still in police custody as part of the investigation into Satyam's mysterious missing billion dollars. Wang stepped down from Computer Associates amid a Federal investigation and class action suits in the US over $1.1 billion worth of stock options granted to CA executives, which personally netted him $670m. Wang was eventually made to pay back one quarter of the stocks.

Wang however, was more fortunate than CA's former COO, Sanjay Kumar, who was sentenced to prison for twelve years and ordered to pay back $800m after being found guilty of  obstruction of justice and securities fraud, after US authorities investigated CA's accounting procedures, in particular irregularities around the granting of the stock options...

Wang meanwhile, has gone on to enjoy success as the owner of New York ice hockey and indoor American football teams, property developer and philanthropist.

Wang was never charged with any criminal offences, and so far neither has Raju, but somehow I don't think the former head Satyamite is going to be following Wang's lead to pastures new.

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