Former software Exec loses 2 Ferraris... | FerrariChat
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Former software Exec loses 2 Ferraris...

Discussion in 'Technology' started by James_Woods, Apr 13, 2007.

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  1. James_Woods

    James_Woods F1 World Champ

    May 17, 2006
    12,755
    Dallas, Tx.
    Full Name:
    James K. Woods
    #1 James_Woods, Apr 13, 2007
    Reuters has an article on Sanjay Kumar, ex CEO of Computer Associates. He has been made liable for investor fraud in the amount of $800 million personally out of a total award of just over 1 Billion to defrauded investors.

    He was required to sell 2 Ferraris as well as "other luxury cars". He is sentenced to a significant jail term and required to pay out 20% of his lifetime earnings in the future toward the judgement.

    The article does not state what kind of Ferraris, or what "other cars" he had.

    Does anybody know, just out of curiosity?
     
  2. 8 SNAKE

    8 SNAKE F1 Veteran

    Jan 5, 2006
    6,948
    Springfield, MO
    Full Name:
    Mike
    #2 8 SNAKE, Apr 13, 2007
    Quoted from an article:

    The assets under claim include: a 57-foot Azimut pleasure boat, a 1999 Ferrari 550 Maranello car, a 2001 Ferrari 550 Maranello, a 2004 Land Rover, a 2004 Volvo XC90, and bank accounts at JP Morgan Chase Bank. The order also attached $9 million the company says Kumar is owed from Charles Wang, the founder of CA, for Kumar's interest in the New York Islanders hockey club, as well as the Kumar house in Upper Brookville, N.Y. (One history says this village, founded in 1932, was so rich during its first 20 years that even the butlers had their own country club.)
     

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