Former general counsel of management software firm Computer Associates International, Steven Woghin has been charged with securities fraud, the Securities and Exchange Commission (SEC) announced last week.
The US securities regulator alleged that over a two year period, Mr Woghin had backdated contracts, signed off false filings, and approved falsified contracts, leading to the premature recognition in the late 1990's of $3.3 billion in revenue.
According to the Legal Week news service, which reported on the charges, the former general counsel has consented to a partial judgement banning him from serving in an official capacity with a public company.
Computer Associates has reportedly pledged to reform its corporate governance system, and has offered shareholders affected by the improper book-keeping $225 million in compensation.
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