The former CEO of Computer Associates International Inc. pleaded not guilty to federal securities fraud and other charges Thursday in a multibillion-dollar accounting scandal at the business software maker.
Sanjay Kumar, 42, was charged in a 10-count indictment announced Wednesday with obstruction of &to=http:// english.pravda.ru/accidents/21/96/383/13887_Coney.html' target=_blank>justice, conspiracy to obstruct justice and making false statements to law enforcement officers.
Also pleading not guilty to the charges in the indictment was the company's former head of worldwide sales, Stephen Richards.
Both men were ordered to post $5 million personal recognizance bonds, surrender their passports and limit their travel to the United States. Their next court date was set for Nov. 23, reports Forbes.
Each faces a maximum &to=http:// english.pravda.ru/accidents/ 21/96/382/13711_Nichols.html' target=_blank>prison sentence of 100 years if convicted.
In a statement issued by his attorneys on Wednesday, Kumar denied any wrongdoing and said he expected to be exonerated.
He is accused of involvement in a widespread company practice known as the "35-day month" that included backdating contracts signed after the end of financial reporting periods to help Computer Associates meet analyst targets for quarterly earnings.
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