Backdating option scandal

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Upon leaving the US he had transferred some million to Israel, with most of that ending up in Namibia; another million was blocked by the US government, which overall sought the forfeiture of 8 million of Alexander's assets.While over a hundred companies were investigated or charged with options backdating, Comverse was one of the most known cases, and in the words of a pair of financial writers, "Comverse was the poster child for stock option fraud." In 2009, the SEC settled its case with Comverse Technology; the company would not be subject to penalty fines over the backdating matter, but would accept a permanent injunction against itself regarding any future violations of law regarding publicly traded companies.

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A March 2002 story by Le Monde recapped the Fox report and concluded: "Comverse is suspected of having introduced into its systems of the 'catch gates' in order to 'intercept, record and store' these wire-taps.On 27 September 2006, he was arrested in Namibia after hiding in Windhoek with his family, where he had bought a house at a country club.If extradited to the US and convicted, he faced 25 years in prison.Comverse Technology had several wholly or partly owned subsidiaries.The name "Comverse" is a fusion of the words "communication" and "versatility".

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