BSS (inc. billing, revenue assurance)

'Most Wanted' Kobi Comes Home

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, Circle me on Google+ Follow me on TwitterVisit my LinkedIn profile, Editor-in-Chief, Light Reading

mendyk 8/24/2016 | 4:11:15 PM
Re: He's been away too long! How much soup does one have to ladle to qualify for white-collar crime forgiveness?
Alison_ Diana 8/24/2016 | 3:06:47 PM
Re: He's been away too long! Call me a cynic, but did he change his ethics and morality or was this part of a plan to humanize him to US authorities? Now, if he and his wife actually ladled out soup at the kitchens several times a week I might be a bit more forgiving. Donating money he got allegedly by illegal means isn't that challenging; if I had millions and millions of someone else's money, I'd be very generous too.
TeleWRTRLiz 8/23/2016 | 4:59:42 PM
Re: He's been away too long! Bigger question for me is why is he returning now -- after 10 years? From the news stories, I have read, it took two years of negotiations to get him to return.

Personally, I am glad to read that the charitable works he and his wife set up in Nambia won't end after he goes though. From MSNBC: "Specifically, since 2007, the Alexander family has financed and operated soup kitchens in Namibia that have served more than 750,000 nutritious meals to children in Katutura and Kuisebmond. These soup kitchens will continue to operate, employing seven people and feeding 700 children each day." 
danielcawrey 8/23/2016 | 2:22:53 PM
Re: He's been away too long! Interesting story. 

I'm wondering how this guy was able to get enough money into Africa to live in a gated community. Or why he got out on bail. Seems like there is more to this tale. 
Mitch Wagner 8/23/2016 | 1:24:03 PM
Re: He's been away too long! Someone in Alexander's position can do a lot more damage than someone knocking over a liquor store. 
[email protected] 8/23/2016 | 11:20:53 AM
He's been away too long! Will there be justice at last? I doubt it. But at least Alexander was caught, but I wonder how much money he actually got out of the US that the authorities never tracked?

And how many jobs and careers suffered because of his fraudulent actions? We can only hope they still have the guts to throw the book at him. 
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