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35 day month

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35 day month
[ temporary import ]
please note:
- the content below is remote from Wikipedia
- it has been imported raw for GetWiki
The "35 day month"NEWSPAPER, The Washington Post
, September 23, 2004,weblink
, Hammer Time for Computer Associates
, Former CA Executives Charged With Fraud ... Prosecutors referred to one practice as the '35-day month' because ..., WEB, WSJ.com (Wall Street Journal)
, CA, INC.,weblink
, W. MCCRACKEN, April 13, 2007
, Given that the facts underlying the 35-Day Month practice at CA had ..., was the basis of "$2.2 billion in accounting fraud"WEB
, NYTimes.com (The New York Times), November 3, 2006
, Ex-Leader of Computer Associates Gets 12-Year Sentence and Fine
,weblink
, ... to 12 years in prison for orchestrating a $2.2 billion accounting fraud at the ... The four-year investigation of Computer Associates, now CA,, NEWSPAPER
, The Los Angeles Times, November 3, 2006
, CA's former CEO gets 12 years in prison in accounting scheme
,weblink
, Sanjay Kumar, the former chief executive of CA Inc., was sentenced to ... in a $2.2-billion accounting fraud at the computer software company, WEB
, MyNBC5.com (WPTZ-TV), March 17, 2017
,weblink CEO who led $2.2B fraud scandal released from prison
, The former chairman and CEO of a New York software company who orchestrated a $2.2 billion accounting fraud is out of ... It now operates as CA Technologies, NEWSPAPER, InformationWeek
, November 6, 2006, 15, Kumar Gets Hard Time, regarding "events regarding an accounting scandal that started in 2002"Started in 2002, prosecuted in 2006/"four-year investigation" (NYTimes) at Computer Associates.

How it worked

The company's "books were routinely kept open until revenues exceeded projected goals."WEB, CNN.com, September 22, 2004,weblink CA's ex-CEO is indicted on fraud, Specifics were described as "a scheme to inflate sales and profits by pretending lucrative contracts were signed earlier than, in fact, they had been.WEB, Former IT boss jailed for 12 years over '35-day month' scam
date=November 3, 2006, independent.co.uk, To support this violation of law, faxes of contracts were "cleaned up ... by removing time stamps .."NEWSPAPER, Sydney Morning Herald, April 25, 2006,weblink CA ex-CEO pleads guilty to fraud, ... had closed - a practice known within the company as the "35-day month" - and "cleaned up" contracts by removing time stamps from faxes.,

Impact

The most immediate impact was that it "cost investors hundreds of millions of dollars," although unlike the matters of Worldcom and Enron, to which it was compared, "Computer Associates - since renamed CA Inc - did not go bankrupt."An overview by a major MBA-giving university wrote that Corporate directors, upon seeing signs of "35-day month ... 'the three-day window ... (and) flash period" "should be especially vigilant."WEB, How Serious Was the Fraud at Computer Associates?,weblink ... termed "the 35-day month," "the three-day window" and the "flash period. ... noting that directors should be especially vigilant at such times.",

Named CA personnel

DATE=JANUARY 17, 2007, 2 Years in Prison for Ex-Software Executive,weblink Reporting at the time added "other former executives have been indicted or fired;" "several... have pleaded guilty to criminal charges."

References

{{reflist}}{{Crime-stub}}


- content above as imported from Wikipedia
- "35 day month" does not exist on GetWiki (yet)
- time: 11:39am EDT - Thu, Aug 22 2019
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