BROOKLYN, N.Y. – Jacob Alexander, also known as ‘Kobi Alexander,’ an Israeli national, pleaded guilty today to one count of securities fraud for his role in a stock options backdating scheme involving Comverse Technologies Inc. (Comverse).
Alexander was a founder, former Chief Executive Officer, and member of the Board of Directors of Comverse, which was traded on the NASDAQ stock market. Comverse was a component stock of the S&P 500 and the NASDAQ 100 at the time of the offense.
Alexander was ordered extradited from Namibia on Monday, August 22, 2016, after having been indicted in the Eastern District of New York more than ten years ago. Alexander arrived at John F. Kennedy International Airport in Queens, New York, this morning in the custody of special agents of the Federal Bureau of Investigation.
When sentenced, Alexander faces up to 10 years in prison. Sentencing is set for 12:00PM on December 16, 2016.
The extradition and guilty plea were announced by U.S. Attorney Robert L. Capers of the Eastern District of New York, and Diego Rodriguez, Assistant Director-in-Charge, Federal Bureau of Investigation, New York Field Office (FBI).
‘By fraudulently backdating Comverse stock options, the defendant personally gained millions of dollars in paper profits. He then compounded his crime by attempting to bribe a witness to make false statements to government investigators. For more than ten years, law enforcement pursued Kobi Alexander, and now he will be held to account for his role in a securities fraud scheme,’ stated United States Attorney Capers.
The guilty plea announced today demonstrates our steadfast commitment to enforce the law against corporate executives who defraud the investing public.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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