November 2nd, 2006
Ex-Islanders Owner Kumar Gets 12 Years On Fraud Conviction
News just hit the wires that former Islanders owner Sanjay Kumar has been sentenced to 12 years in prison for his involvement in a $2.2 billion accounting fraud that occurred while he was CEO of Computer Associates, which led David Singer to write:
For the record, that
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on Thursday, November 2nd, 2006 at 12:58 pm by Eric McErlain and is filed under Hockey.
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1) anyone keeping track on how many former owners have gone to prison for fraud/other accounting irregularities?
2) Along with Spano, Kumar, and McNall, we can recall Rigas in Buffalo, and Debartolo in Pittsburgh. We believe there was also a former aowner of the Thrashers indicted not long ago. Anyone know others?
Yes – former Leafs owner Harold Ballard spent one year in prison around 1972, after being found guilty of fraud. Ballard had been using company money to renovate his home.