Friday, June 8, 2007

First Extradition Hearing for Kobi Alexander

The first hearing on the U.S. government's request to Namibia that it extradite Kobi Alexander is set to start on June 8 in Windhoek, the nation's capital.  Alexander is the former CEO of Comverse Technology, and was indicted in August 2006 on securities fraud and conspiracy charges related to options backdating at the company.  Comverse's former CFO and general counsel entered guilty pleas and are cooperating in the government's prosecution of Alexander, assuming it ever takes place in the Eastern District of Brooklyn where he was indicted.  Alexander left the U.S. while the investigation heated up in July 2006 and then bobbed to the surface in Namibia a couple months later, where he moved with his family.  He has begun investing in Namibia and spreading his largesse in the country.  He has started a scholarship program for Namibian students, and billboards have appeared in Windhoek in the name of "Alexander Enterprises" stating "Yes to investment."  At least they don't say "Let me stay and I'll give you money!"  The extradition process promises to be slow, with appeals likely to take years if an extradition order is issued.  A story from Globes (here) discusses the hearing and billboards. (ph)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2007/06/first_extraditi.html

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