Kumar Going to Prison

The former Computer Associates CEO gets 12 years in prison.
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Former Computer Associates CEO Sanjay Kumar will spend the next the dozen years in a federal prison.

A federal judge on Thursday sentenced Kumar to a 12-year prison term and fined him $8 million for his role in a massive accounting scheme at the New York software company. In April, Kumar pleaded guilty to obstruction of justice and securities fraud charges in the $2.2 billion accounting fraud at the company now called

CA

(CA) - Get Report

.

Kumar, 44, could have been facing a much longer prison term under the federal sentencing guidelines. But U.S. District Judge Leo Glasser said 12 years was sufficient.

"I know that I was wrong and there was no excuse for my conduct," Kumar told the judge, according to the

Associated Press

.

After pleading guilty in April, Kumar relinquished his equity position in the New York Islanders hockey team. Kumar was a co-owner of the Islanders along with Charles Wang, the founder and former chairman of the giant software company.

The accounting scandal at CA was a massive scheme involving a number of top executives, who approved a plan to prematurely book more than $2 billion in sales in order to bolster weak quarters.