Comverse execs charged with stock-option fraud
CEO still at large with $60 million
By Liz Moyer
August 8th, 2006
The ex-CEO of Comverse Technology arranged a secret slush fund of stock options by directing grants to “phantom” employees in a special account set up for the purpose, according to federal prosecutors.
The U.S. Justice Department and the Securities and Exchange Commission said Wednesday that the slush fund was part of an elaborate fraud carried out by three former senior executives of Comverse (nasdaq: CMVT – news – people ), including former CEO and founder Jacob “Kobi” Alexander (pictured).
Options amassed in the secret account were doled out to real employees without the approval of the board’s compensation committee, the government contends. In addition, Alexander and his finance chief allegedly tried to conceal the slush fund from the board and from the company’s outside auditors.
The Justice Department says Alexander wired $60 million from his own brokerage account to Israel “in an attempt to conceal the proceeds from the U.S. authorities.” (….Full Article)
Reference:
Israeli 9/11 Crook Flees with $57 Million to Israel
By Christopher Bollyn
August 10th, 2006
Jacob “Kobi” Alexander, the Israeli founder of Comverse Technology, one of the leading Mossad companies involved in the terror attacks has fled justice in the United States and escaped to Israel with at least $57 million of ill-gotten gains.
As todays New York Times reports:
New York – Describing a brazen scheme to manipulate the granting of options, federal prosecutors have charged three former executives of Comverse Technology with mail fraud, securities fraud and wire fraud.
In charging the former executives on Tuesday, prosecutors said they had used fictitious employees to create a secret slush fund of options to be distributed to favored employees.
The former chief executive, Jacob Alexander, who had built Comverse into a $1 billion leader in the communications software market, did not appear in court and is believed to have fled to Germany or Israel, according to a person briefed on the investigation. A warrant was issued for his arrest.
Alexander is highly regarded in Israel, where he once owned a stake in a Tel Aviv professional basketball team and where Comverse has extensive business operations.
In late July, he wired $57 million to an account in Israel, according to court filings from the Justice Department. Millions more are believed to remain in his accounts in the United States, which prosecutors have asked to be frozen.
Kobi Alexander should be arrested and interrogated about his knowledge of the events of 9/11. His company acquired the other Mossad firm, Odigo, shortly after it was revealed that Odigo employees had been forewarned of the attacks on the World Trade Center.
This is the tip of the Israeli criminal mafia who is behind the terror attacks on 9/11.
Here is a relevant section from one of my articles about Mossad’s involvement in 9/11, which I posted on RMN on April 7, 2005:
At least two Israel-based employees of Odigo received warnings of an imminent attack in New York City more than two hours before the first plane hit the WTC. Odigo had its U.S. headquarters two blocks from the WTC. The Odigo employees, however, did not pass the warning on to the authorities in New York City, a move that could have saved thousands of lives.
Odigo has a feature called People Finder that allows users to seek out and contact others based on certain demographics, such as Israeli nationality.
Two weeks after 9/11, Alex Diamandis, Odigo’s vice president, reportedly said, “It was possible that the attack warning was broadcast to other Odigo members, but the company has not received reports of other recipients of the message.”
The Internet address of the sender was given to the FBI, and two months later it was reported that the FBI was still investigating the matter. There have been no media reports since.
Odigo, like many Israeli software companies, is based and has its Research and Development center in Herzliya, Israel, the small town north of Tel Aviv, which happens to be where Mossad’s headquarters are located.
Shortly after 9/11, Odigo was taken over by Comverse Technology, another Israeli company. Within a year, five executives from Comverse were reported to have profited by more than $267 million from “insider trading.”
Kobi Alexander the Israeli crook who owned the Mossad companies who had clear foreknowledge of the terror attacks of 9/11. Alexander transferred $57 million to Israel and fled to Israel as a fugitive from justice. Why didn’t the police arrest him before he was able to get away? Who warned him and allowed him to flee? This man is connected to the terror attacks of 9/11.
Source: Christopher Bollyn
