When leadership absconds
February 5, 2008 by Miki Saxon
OKaaaa. Class is in session and there will be a short quiz at the end.
- CEO is indicted for backdating stock options;
- CEO flees to Namibia;
- CEO fights extradition;
- CEO claims he isn’t guilty.
This isn’t a pilot waiting for the writers’ strike to end; it’s the story of Comverse Technology CEO Jacob “Kobi” Alexander.
- “…he was indicted on charges of illegally making $6 million by backdating the timing of his company stock options.”
- “fled to Namibia in 2006″
- “… also engaged in manipulating the price of Comverse’s stock through “improper accounting.” Such an action might be considered securities fraud.”
- “Alexander’s attorney, Robert Morvillo, said yesterday that his client “believes the [report] contains a substantial number of inaccuracies, and he is prepared to defend himself against any [further] allegations.” Morvillo previously has said that his client is not guilty of the stock-options charges.”
Anyone who watches cop shows knows what it means when someone flees the scene.
Do you think there’s a viable reason to flee if you’re not guilty and have plenty of money to hire legal talent?
Your comments—priceless
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