US prosecutors claim, among other things, that he transferred $57 million to accounts in Israel.
Shiri Habib 14 Dec 06 13:16
Former Comverse Technology Inc. (Nasdaq: CMVT) chairman and CEO Kobi Alexander has had some good news. The Namibian High Court ordered Alexander be allowed to withdraw money from his accounts at the Windhoek unit of Standard Bank Group Ltd. and Bank Windhoek.
Alexander fled to Namibia in the wake of the stock options backdating affair at Comverse, and is wanted by the US authorities for securities fraud. His accounts were frozen in October. In early October, a Windhoek court released him on 10 million Namibian dollars bail ($1.4 million) bail. The US subsequently applied to the Namibian authorities for Alexander’s extradition to face charges of stock options backdating, conspiracy, securities fraud, filing false documents, money laundering and bribery.
Alexander’s fortune is estimated at $250-300 million. US prosecutors claim, among other things, that he transferred $57 million to accounts in Israel after the backdating affair was discovered. His wife, Hannah, has hired a lawyer in family law. Since the couple’s relationship is known to be excellent, it is believed that she wants to prevent the US authorities from seizing all of his money and property in Israel.
http://www.globes.co.il/serveen/globes/docview.asp?did=1000162624&fid=942
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