They took people for a ride

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: III pleaded guilty to tax conspiracy, evasion, money laundering, mail and wire fraud and providing false statements to a government agency. The case filed in 2001 in California resulted in a five- month prison sentence with three years of supervised release as well as $1.5 million in restitution

Computer Associates International

Former chief of the California-based company, Sri Lanka-born Sanjay Kumar was sentenced to 12 years in prison and fined $8 million in 2006 after being charged with securities fraud and obstruction of justice following a 2-year investigation of an improper accounting scheme. According to investigators, the scheme resulted in a shareholder loss of more than $400 million. The charge of obstruction of justice stemmed from Kumar tampering with a laptop in an attempt to conceal evidence, lying to federal investigators and directing company employees to also provide false information.

Biggest financial frauds in the world

• 1992: The first big fraud was made in India by a great success broker with over 10 years of experience. Having a broker company at the beginning of the 1990’s, Harshad Mehta obtained funds from the bank market, which he operated at the Bombay Stock Exchange. In 1992 the Indian stock exchange collapsed, the total loss being around $1.3 billion, all being made by Mehta. “The Big Bull”, as he was called ended in jail, where he died 10 years later.

• 1996:The manipulation of prices with the role of dominating a market was signaled in Japan. In this case, Yasuo Hamanaka, chief of copper trading department on Japan market, made in 10 years operations that lead to lost of $2.6 billion. He was sentenced to 8 years in prison.

• Between 1997 and 2001: One trader from Allied Irish Bank, the biggest Irish bank, managed to lose about $750 million with foreign exchange market. Beside the damage he made to the corporate in USA where he was employed, trader John Rusnak made $850,000 from salary bonuses. Rusnak covered his loses with fake reports to the bank, for which he was sentenced to 8 years in prison.