A San Francisco jury found former McAfee Chief Financial Officer Prabhat Goyal guilty Thursday of fudging accounting to hide losses and pump up the company's revenue figures from 1998 through January 2001. Prosecutors argued that as a result of Goyal's actions, McAfee Inc., then known as Network Associates, improperly recorded more than $470 million in revenue and understated its losses by more than $330 million.
May 11, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A San Francisco jury found former McAfee Chief Financial Officer Prabhat Goyal guilty Thursday of fudging accounting to hide losses and pump up the company’s revenue figures from 1998 through January 2001.
As a result of Goyal’s actions, federal prosecutors argued that McAfee Inc., then known as Network Associates, improperly recorded more than $470 million in revenue and understated its losses by more than $330 million.
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