Concealing the practice through improper accounting is illegal, and can inflate earnings. Prosecutors said that from to Alexander participated in a scheme to use hindsight to select the effective dates for granting options for employees, resulting in misleading statements to investors.
Alexander fled to Namibia with his family in July amid the investigation. Sorin pleaded guilty and was sentenced to one year in prison. Kreinberg was spared prison after pleading guilty. In November , Justice Minister Ayelet Shaked approved Alexander's request to serve the rest of his sentence in Israel and he was transferred to Israel from the US in accordance with an agreement between he two countries. According to Israeli law, Mr.
Alexander could have a third of his term deducted for good behavior, meaning that he could be released from jail just months after his transfer. Alexander founded Comverse Technology in Tel Aviv as a small startup that grew to become a multinational provider of telecommunication software with over 5, employees. The company was listed on Nasdaq in Homepage News. Alexander was serving a prison sentence in the U. CNBC tracked him there in , and found him living in a gated community on the grounds of the Windhoek Country Club.
His luxury townhouse was adjacent to a private airstrip, even though a Namibian judge had restricted his travel and Alexander theoretically faced certain arrest if he left the country.
By then, Alexander had pledged millions of dollars — lavish by Namibian standards — in aid to Namibian schoolchildren and new housing for the nation's impoverished townships. Alexander and his wife also set up a pair of soup kitchens in the country, credited by local media with feeding hundreds of children every day. Attorneys in the U. Nonetheless, extradition proceedings in Namibian courts dragged on for years, with most hearings postponed or canceled.
Alexander has remained in Namibia long after his fellow former executives got out of prison, reportedly flying in guests for his son's bar mitzvah in But Alexander did not ignore his looming legal problems in the U.
He eventually settled multiple lawsuits brought by Comverse shareholders. But the criminal case against him remained the final loose end, complicated by the notoriously slow wheels of justice in Namibia, and the fact that dot-com era options backdating cases brought by the previous administration were not exactly a top priority in the U.
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