November 02, 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’s three years less than Rick Dipietro.
With the conviction, the Islanders have set a new NHL record for most former owners who have spent time in prison, two. Beside Kumar, the team was also once owned by John Spano, who fooled everyone into thinking he had enough money to purchase the team. He spent four years in prison, and is currently facing trial for yeat another fraud charge. The Islanders formerly shared the record with the Los Angeles Kings, who's former owner, Bruce McNall, spent more than four and a half years in prison on Federal fraud charges.
Trackback Pings
TrackBack URL for this entry:
http://www.ericmcerlain.com/mt/mt-tb.cgi/6693
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?
Posted by:
at November 2, 2006 04:55 PM
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.
Posted by:
at November 2, 2006 10:20 PM
Post a comment
Thanks for signing in,
.
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)
12:58 PM
![[TypeKey Profile Page]](http://www.ericmcerlain.com/offwingopinion/nav-commenters.gif)