NASDAQ: CMVT, located in New York, develops and markets telecommunications software.
Founded in 1981, the company focuses on providing value-added services to third party telecommunication service providers.
Jacob "Kobi" Alexander, 64, will plead guilty to one count of backdating stock options, the lawyer, Benjamin Brafman, said in an email.
The defendant had been arrested in Namibia in September 2006 after a global manhunt. Department of Justice did not immediately respond to a request for comment.
We helped you find out first, giving you an edge and even helping keep you safe.
(Reuters) - The former Comverse Technology Inc chief executive officer who authorities say fled to Africa a decade ago to avoid prosecution in a stock options scandal will return to the United States and plead guilty to a criminal charge, his lawyer said on Monday.
In the latest example of an auditor’s work being tied to fraud allegations, former Comverse Technologies CEO Jacob “Kobi” Alexander and the company’s one-time legal counsel, William Sorin, are suing Deloitte & Touche in connection with the purported -million stock-option backdating scandal that came to light more than two years ago.
Alexander, who became a fugitive from the FBI when he allegedly fled the U. for Namibia, where he is living today, filed a law suit separate from Sorin’s suit against Deloitte in federal District Court in Brooklyn, N. In the complaints, Alexander and Sorin said that if they are held liable in the backdating case, Deloitte & Touche should bear some responsibility for damages, according to Knight Ridder/Tribune.
The next year, he reached a .6 million civil settlement with the U. Alexander's expected plea was reported earlier by CNBC.
Deloitte has been Comverse’s independent auditor since 1994.
In an e-mail response to CFO.com, Deloitte officials commented: “These are meritless claims filed by one individual who has already plead[ed] guilty to federal criminal charges and by another who has fled to Namibia to try to escape the American criminal justice system.
We've lit up your screen, buzzed your pocket and reached out across the room with our three-note alert sound.
We've told you about things you cared about, and helped you feel more in touch with the world. Thank you for being on the other end of that glowing screen.