Three former financial executives at Computer Associates International Inc., including the ex-chief financial officer, pleaded guilty Thursday to criminal charges related to a federal investigation of the company's bookkeeping.
Former CFO Ira Zar pleaded guilty in U.S. District Court in New York to charges of securities fraud conspiracy, substantive securities fraud and obstruction of justice conspiracy. Zar faces a maximum sentence of 20 years.
David Rivard and David Kaplan, both former senior financial executives, pleaded guilty to securities fraud conspiracy and obstruction of justice conspiracy. They each face a maximum of 10 years in prison, according to a spokesman at the U.S. Attorney's Office for the Eastern District of New York.
Roslynn Mauskopf, U.S. attorney for district, said the pleas demonstrate the corrupt culture of the company's management.
"The pleas represent a major advance in our continuing effort to bring to justice those at Computer Associates who are responsible for committing securities fraud and obstructing the government's investigations."
The U.S. Department of Justice and the U.S. Securities and Exchange Commission have been investigating CA's accounting practices for about two years.
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