Friday, September 29, 2006

Kobi Alexander On Ice for the Weekend

Former Comverse Technology CEO Kobi Alexander will be sitting in a Namibian jail for the weekend after a magistrate postponed a hearing on his extradition to the United States until Monday, October 2.  Alexander was arrested on Sept. 27, after the Parliament enacted a provision authorizing the government to extradite him to the United States to face conspiracy, securities fraud, and related charges related to options backdating at the company.  Alexander's lawyers requested that he be released on bail pending the extradition hearing, a position the U.S. and Namibian government will oppose because of the potential risk of flight, given that he was declared a fugitive after the initial charge was filed on August 9 and his large bank transfers into Namibia that helped to identify him.  A Bloomberg story (here) discusses the status of the case. (ph)

International, Securities | Permalink

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