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According to charging documents, the guilty plea proceeding, and other documents filed by the government in this case, Comverse was a communications software company with offices in Woodbury, New York.

Between 19, the defendant and his coconspirators engaged in a fraudulent backdating scheme using hindsight to select the issuance date of Comverse stock options, which they awarded to themselves and Comverse employees, and then lied about this practice to investors in public filings and elsewhere.

Comverse was a component stock of the S&P 500 and the NASDAQ 100 at the time of the offense.

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Alexander was a founder, former Chief Executive Officer, and member of the Board of Directors of Comverse, which was traded on the NASDAQ stock market. – Jacob Alexander, also known as “Kobi Alexander,” an Israeli national, pleaded guilty today to one count of securities fraud for his role in a stock options backdating scheme involving Comverse Technologies Inc. Following a bail hearing, the court entered a permanent order of detention.The task force was established to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes. Since its formation, the task force has made great strides in facilitating increased investigation and prosecution of financial crimes; enhancing coordination and cooperation among federal, state, and local authorities; addressing discrimination in the lending and financial markets; and conducting outreach to the public, victims, financial institutions, and other organizations.Since fiscal year 2009, the Justice Department has filed over 18,000 financial fraud cases against more than 25,000 defendants.If two people jointly own or have a joint tenancy they will both be responsible for the bill, although only one bill will be sent to the home.

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For more than ten years, law enforcement pursued Kobi Alexander, and now he will be held to account for his role in a securities fraud scheme,” stated United States Attorney Capers.

“The guilty plea announced today demonstrates our steadfast commitment to enforce the law against corporate executives who defraud the investing public.” “The wheels of justice turn slowly but they keep moving; this is especially true in the case against Jacob “Kobi” Alexander.

Shortly before being charged in connection with his scheme, and after he was aware of the government’s investigation, the defendant moved to Namibia, where he relocated with his family.

The government promptly sought the defendant’s extradition.

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