The former chief executive of Comverse Technology Inc., who was charged last week with conspiracy related to backdating stock options, is now being regarded as a fugitive by the federal government.
The lawyer for Kobi Alexander, the former chief of the New York telecommunications company, said that it has been two weeks since he spoke to his client, who was in Israel at the time. Since then, prosecutors say that Alexander transferred more than $57 million from his U.S. bank accounts to Israel. Alexander, who is an Israeli citizen, regularly travels between the countries, according to published reports.
The Federal Bureau of Investigation issued an arrest warrant for Alexander on July 31.
Alexander and two other former Comverse executives were charged with conspiracy to commit mail, wire and securities fraud, for allegedly pretending options had been granted to themselves and others on unusually favorable dates, hiding the backdating from the company's board, and raking in millions in profits for the executives.
More than 80 companies are being investigated in the government's probe into stock-options grant manipulations.
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