The former CEO of CA, Sanjay Kumar who was last year found guilty in a $2.2-billion accounting fraud at the firm and sentenced to 12 years in prison and a $8-million fine, has been ordered to pay $798.6-million in restitution to victims of his crime.

Judge Leo Glasser signed off a restitution agreement on Friday, at the same time waiving the $8-million fine to maximise the payout to victims.
An initial $52-million is expected to be paid by Kumar once he liquidates his assets and family trusts before starting his jail-term in August. After serving his sentence, Kumar is obliged to pay 20% of his annual income to pay off the remaining amount.
CA has already paid $225-million in restitution which, according to reports, is yet to be allocated to shareholders defrauded by Kumar. The company has also spent $15-million on restating five years of revenues.
In November last year, Kumar pleaded guilty to instituting and enforcing the so-called 35-day month at CA whereby software licence revenue was backdated to closed fiscal quarters to meet Wall Street profit expectations and secure massive bonuses for himself and certain other senior staff. He was also convicted for obstruction of justice for lying to investigators, attempting to destroy evidence and attempting to bribe potential witnesses.
Kumar is also facing a $14.9-million lawsuit from CA which is looking to recover legal fees it paid to defend him.