Comverse technology backdating scandal

26 Sep

The 2 1⁄2-year prison term exceeded by 6 months the longest previous sentence in the U. for options backdating, but as part of the deal to get him to return prosecutors dropped obstruction of justice and bribery charges, and they never charged Alexander over his flight.The father of three, whose family and friends filled the courtroom, is worth 0 million and lived comfortably on a golf course in Namibia, according to prosecutors.We helped you find out first, giving you an edge and even helping keep you safe. Is Gregory Reyes being made Silicon Valley's poster boy for backdating of stock options?The judge said Alexander cut a deal to return to Brooklyn because he eventually wants to go home to Israel and not live out his life in Africa.In researching this post, I came across a number of recent reports on Henry Nicholas III, the once high-flying CEO and cofounder of Broadcom. While the story was enthralling, I didn't understand what any of it had to do with a federal investigation into stock option backdating.

comverse technology backdating scandal-31

Many of the features we implemented came directly from your feedback. In our six-year run we had the honor of being at the forefront of news, technology and public safety, always focused on verifiable news delivered as fast as humanly possible.That means the company incurs an expense equal to the difference in the share price between the two dates.Law360, New York (March 18, 2011, PM EDT) -- A former top executive at Comverse Technology Inc.was sentenced Friday in New York to time served after cooperating with authorities in a stock options backdating probe of the software company. District Court for the Eastern District of New York. Former Comverse Chief Financial Officer David Kreinberg was sentenced by Judge Nicholas G. In October 2006, he became the first of three Comverse executives facing criminal backdating charges to plead guilty.