Comverse backdating scandal Kenyan sex chat group
Jacob “Kobi’ Alexander, a fugitive technology executive who has spent a decade hiding in Africa from criminal charges in a stock-options backdating scandal, is returning to the U. As with that of many tech and telecom companies, Comverse’s stock rocketed upward in...According to one report, nearly 190 companies have been the subject of publicly announced investigations by either the Securities and Exchange Commission (SEC), the United States Department of Justice or the companies themselves.
Alexander will plead guilty Wednesday to a one-count superseding indictment, according to his New York-based criminal attorney, Benjamin Brafman, bringing to a close one of the last remaining cases of the dot-com era. Attorney's office in Brooklyn, which brought the original indictment, declined to comment.By then, Alexander had pledged millions of dollars — lavish by Namibian standards — in aid to Namibian schoolchildren and new housing for the nation's impoverished townships. accused Alexander of using Comverse shareholder money to buy off the Namibian government, which his Namibian attorney flatly denied.But after the bubble burst, the company was among the first to be targeted in a sweeping federal investigation of options fraud. Comverse Technology survived until 2013, when it was bought out by a former subsidiary, Verint Systems.Escape to Africa With his own indictment looming in 2006, Alexander moved to Namibia, which had no extradition treaty with the United States. Alexander was chief executive of Comverse Technology Inc., a New York company that made voice-mail systems.
Law360, New York (January 8, 2007, AM EST) -- One of the most significant corporate governance stories of 2006 was the continuing stream of revelations by publicly traded corporations of problems with the process by which employee stock options were granted and reported and the resulting flood of restatements of financial statements by these companies.