IT giant CSC has been slapped with a $190m (£122m) penalty by US regulator the Securities and Exchange Commission following a probe into the firm's accounting practices. The investigation was opened in 2011, mainly into the firm's European outsourcing unit - including revenue from its troubled NHS contract negotiations between …
Amen. The worst of the worst. As a naive, ignorant, and broke-as-hell lad, I took my first position with CSC. Shortly after, upper-management frantically started calling each one of the people in my group, asking if they would be as kind as to "edit" the last 2 years of their timesheets to make it appear we're actually meeting our contractual obligations on a specific account. With the amount of shit that they pulled, and their reputation among their customers, frankly, I'm shocked they're still in business.
Any actions meriting a fine this large needs to have prison sentences to go along with it. Both for the responsible executives (for obvious reasons) and the board of directors (for, at the very least, negligence - a directorship is not or rather should not be free money to the the cronies of the managing execs and major stockholders.)
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