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Fugitive posts

Fugitive former CEO is free again

Posted Oct 3rd 2006 11:48AM by Tom Taulli (RSS feed)
Filed under: Bad News, Comverse Technology (CMVT)

I recently wrote a post for BloggingStocks.com about the former CEO of Comverse Technology Inc. (NASDAQ: CMVT), Kobi Alexander. Because of charges for backdating of stock options, Alexander fled the U.S. – until he was caught recently in Namibia.

Well, he must have a smart attorney as he was able to get bail for $1.3 million. But there are some conditions; that is, he must surrender his passport, report to Interpol two times a week and not flee.

Not flee? Isn't that what he already did – running from the FBI and Interpol?

But Alexander understands the power of money. According to an AP report, he has wired about $16 million to Namibia. He has invested in some businesses – even a low-cost housing project.

Oh, and he is living in a $500,000 house at a country club.

So, he better enjoy his freedom. Once he is extradited back to the U.S., prosecutors will have lots of juicy details for the jury to ponder.

Tom Taulli is the author of various books, including the Complete M&A Handbook and operates InvestorOffering.com.