And you thought backdating stock options was boring:

The hunt for Jacob Alexander, known as Kobi, was stepped up yesterday after the FBI declared him a fugitive. Alexander, 54, the former chief executive of the communications software company Comverse, was charged last week by federal prosecutors in Brooklyn with conspiracy to commit securities fraud.

He and two other former Comverse executives were charged in connection with their alleged involvement in a stock options scheme that, prosecutors said, used a secret slush fund to dole out options to favoured employees.

Two of the former executives showed up at their arraignment last week, but Alexander did not. The FBI also said yesterday that a red notice was issued for Alexander with the international police organisation Interpol.

More here. And click here for the FBI release on the Comverse three.

-- MDT

Labels: Comverse, fugitive, Kobie Alexander