Alexander was chief executive of Comverse Technology Inc., a New York company that made voice-mail systems.
Law360, New York (January 8, 2007, AM EST) -- One of the most significant corporate governance stories of 2006 was the continuing stream of revelations by publicly traded corporations of problems with the process by which employee stock options were granted and reported and the resulting flood of restatements of financial statements by these companies.
He is also accused of money laundering after moving millions of dollars to personal accounts in his native Israel, as well as bribery and witness tampering for attempting to persuade the company's chief financial officer to take the fall for the scandal.
Comverse, a darling of Wall Street during the tech boom, pioneered the development of voicemail.
But after the bubble burst, the company was among the first to be targeted in a sweeping federal investigation of options fraud. Comverse Technology survived until 2013, when it was bought out by a former subsidiary, Verint Systems.
Escape to Africa With his own indictment looming in 2006, Alexander moved to Namibia, which had no extradition treaty with the United States.
By then, Alexander had pledged millions of dollars — lavish by Namibian standards — in aid to Namibian schoolchildren and new housing for the nation's impoverished townships. accused Alexander of using Comverse shareholder money to buy off the Namibian government, which his Namibian attorney flatly denied.
Former Comverse Technology Chairman and CEO Jacob "Kobi" Alexander, who refused to return from Africa after being indicted in a wide-ranging stock option scandal a decade ago, has agreed to return to the U. The agreement is the product of more than two years of sensitive negotiations among the Justice Department, Alexander's attorneys, and government authorities in Namibia, where Alexander, 64, has been living since 2006 while fighting extradition to the U. He was scheduled to appear before a Namibian judge on Monday morning to end the proceedings there and clear the way for his return to New York. A federal grand jury indicted Alexander in 2006 on 35 counts for allegedly masterminding a 15-year scheme to manipulate the value of millions of dollars worth of Comverse options. Alexander will plead guilty Wednesday to a one-count superseding indictment, according to his New York-based criminal attorney, Benjamin Brafman, bringing to a close one of the last remaining cases of the dot-com era. Attorney's office in Brooklyn, which brought the original indictment, declined to comment.