The telecom software sector's leading fugitive, former Comverse CEO Kobi Alexander, is returning to the US to finally have his day in court after ten years hiding out in Africa, according to this report from CNBC.
Alexander, the only person to have made both the FBI's "Most Wanted" list and Light Reading's Hall of Fame roster, fled the US in 2006 after charged with stock options fraud and ended up in the African nation of Namibia, where he was arrested but released on bail. Since then he has been living a simple life and donating to charity from his home in a luxury gated community. (See Light Reading's Hall of Fame: The First Five.)
He agreed to pay a $54 million settlement in 2010 but the charges of fraud were not dropped. (See Comverse Kobi Coughs Up $54M.)
Now, according to CNBC, he is heading back to the US to plead guilty on Wednesday to a single count of options back-dating.
We await the outcome in the expectation that Alexander has cut a deal with the authorities and won't be joining Bernie Ebbers at the Oakdale Federal Correctional Institution in Louisiana. (See Bernie in the Big House.)
Comverse no longer exists. Part of the company was acquired by Amdocs Ltd. (NYSE: DOX) in April 2015 and the rump acquired IP messaging platform specialist Acision and changed its name to Xura Inc. (See Comverse Shells Out $135M for Acision, Amdocs Splashes $272M on Comverse's BSS and this press release.)
— Ray Le Maistre, , Editor-in-Chief, Light Reading