The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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3/08/2009
Former KB Home CEO Faces Backdating Charges
Former KB Home CEO Faces Backdating Charges
Backdating. Quaint, right?
In the face of the Madoffs, Stanfords et. al. In the cold hard light of 2009 backdating seems downright kiddie pool way to defraud your shareholders. But punished it must be and Bruce Karatz, former CEO of KB Home, is facing 20 counts - with a potential (cough) 415 years in prison.
Another former KB exec, Garry Ray plead guilty a month ago to conspiring with Mr. Krantz to obstruct the SEC investigation into backdating at KB Homes. That can't be a terribly good sign for Krantz. Bloomberg has the rest.
-- MDT
In the face of the Madoffs, Stanfords et. al. In the cold hard light of 2009 backdating seems downright kiddie pool way to defraud your shareholders. But punished it must be and Bruce Karatz, former CEO of KB Home, is facing 20 counts - with a potential (cough) 415 years in prison.
Another former KB exec, Garry Ray plead guilty a month ago to conspiring with Mr. Krantz to obstruct the SEC investigation into backdating at KB Homes. That can't be a terribly good sign for Krantz. Bloomberg has the rest.
-- MDT
Labels: backdating, Bruce Karatz, Garry Ray, KB Home
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