Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Wed Jul 18, 2007 6:47 pm Post subject: Metronet rail crashes and burns
What about the really crooked contract, that Metronet signed with Verint Systems to run the CCTV service. That same 'service' which has failed to come up with any images of the London bombing suspects or of the murder of Jean Charles De Menezez. Why has that not been terminated too?
Metronet goes into administration http://business.guardian.co.uk/story/0,,2128999,00.html
Dan Milmo, transport correspondent
Wednesday July 18, 2007
Guardian Unlimited
Metronet, the London Underground contractor, announced this morning that it will go into administration after racking up a £2bn overspend bill......
April 2003 - Metronet wins two contracts to revamp the tube: one (BCV) to cover Bakerloo, Central, Victoria, Waterloo & City and one (SSL) for the sub-surface lines: Metropolitan, Circle, Hammersmith and City, District and East London. The estimated budget until 2010 is £8bn
November 2006 - The PPP Arbiter notes Metronet has refurbished only four stations in the BCV contract as opposed to 17 projected. It had completed 10 refurbishments in the SSL compared with 18 in its plan. Refurbishing track and tunnels for the BCV contract had cost £5.7m compared with a budgeted £3m
February 2007 - Metronet begins outsourcing station upgrades following criticism that the previous approach, which saw member companies of the consortium taking on projects, is expensive and inefficient
March 2007 - Projected cost overruns of up to £750m incurred by Metronet under the PPP contracts are neither efficient nor economic, says the PPP Arbiter, although he fails to reach a decision as to who should pay the additional costs incurred
June 2007 - After months of speculation Metronet formally initiates an Extraordinary Review of its BCV business. The process will ultimately see the Arbiter decide how much the company or London Underground should contribute towards massive cost overruns. Metronet says a request for an Extraordinary Review of the SSL business will follow later in the year
The Namibian High Court will hear the challenge ahead of the extradition hearing tomorrow.
Shay Niv 12 Aug 07 17:19
The Namibian High Court will tomorrow hear the request by Comverse Technology Inc. (Pink Sheets: CMVT.PK) founder Kobi Alexander to remove the Windhoek Magistrates Court Judge Petrus Unengu hearing his extradition case to the US.
Alexander’s attorneys claim that Chief: Lower Courts Unengu is a member of Namibia’s civil service, and therefore cannot hear the case. The attorney’s claim that this is a violation of the separation of powers, because Unengu was appointed by the minister of justice, who is known to be one of the few Namibian ministers opposed to Alexander’s presence in the country and supports his extradition.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Fri Aug 17, 2007 2:52 pm Post subject: Where the Heck is Kobi Alexander?
White Collar Crime Prof Blog
A Member of the Law Professor Blogs Network
Blog Editors
Peter J. Henning, Professor of Law, Wayne State Univ. Law School
Ellen S. Podgor, Associate Dean of Faculty Development & Distance Education, Professor of Law, Stetson University College of Law
August 11, 2006
Where the Heck is Kobi Alexander? http://lawprofessors.typepad.com/whitecollarcrime_blog/2006/08/where_t he_heck_.html
Former Comverse Technology CEO Kobi Alexander was charged with conspiracy along with two other senior executives, but has not been located at this point. While a Department of Justice press release (here) notes that two brokerage accounts with $45 million of Alexander's assets have been frozen, it appears that he transferred over $57 million to accounts in Israel in what the government asserts was a money laundering scheme "in an effort to conceal the funds from U.S. authorities." The FBI has declared Alexander a fugitive, and is conducting a worldwide search.
Overview
Jacob Kobi Alexander was the former chief executive of a leading voicemail software maker, Comverse Technology Inc., in Wakefield Ma. Mr. Alexander was a fugative from the law, and was eventually arrested in the Republic of Namibia. He is awaiting extradition.
Background on the Comverse Technology Case
Defendants:
CEO Jacob "Kobi" Alexander
CFO David Kreinberg
General Counsel William Sorin
The Complaint:
The defendants are accused of backdating the exercise price of company stock options to the low point in the stock's value. A stock option's exercise price usually coincides with the fair market value at the time of the grant. Options with a backdated strike price are far more valuable.
Mr. Alexander exercised options and sold stock worth approximately $150 million. His profit was $138 million. $6.4 million was generated by the backdated options. Mr. Kreinberg and Mr. Sorin both earned about $1 million on backdated options.
In addition, the company awarded stock options to "fictional employees", under an internal account by the name "I.M. Fanton" (which stood for "phantom").
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Fri Aug 17, 2007 5:07 pm Post subject:
Comverse Technologies accused of wiretapping the US Justice Department
(This story may be a little old but it's new to me - ye gods - what a can of worms a search for Verint, Comverse, Kobi Alexander, Jacob Alexander and Odigo opens up! - Tony)
Charles R. Smith
Wednesday, Dec. 19, 2001
Spies Tap Police and Government Phones
In the wake of the Sept. 11 terrorist attack, the FBI has stumbled on the largest espionage ring ever discovered inside the United States. The U.S. Justice Department is now holding nearly 100 Israeli citizens with direct ties to foreign military, criminal and intelligence services.
The spy ring reportedly includes employees of two Israeli-owned companies that currently perform almost all the official wiretaps for U.S. local, state and federal law enforcement.
Comverse Technology, Inc., which moved last year from Woodbury to Manhattan amid accounting and stock option scandals, is close to a break up and will sell off Melville-based subsidiary Verint Systems Inc., according to analysts' interpreting an unconfirmed report Tuesday in the Israeli newspaper Haaretz.
Citing a report in that publication that Comverse is laying off hundreds of workers and selling Verint and Starhome, another subsidiary, analysts Daniel Ives and Michael Bauer of the Manhattan firm Friedman, Billings, Ramsey & Co., Inc. released a research note Tuesday morning suggesting that the company is "getting closer to a break up."
Comverse's previously-announced 5-percent workforce reduction was "only the first stage of this cost-cutting initiative," they wrote. "We believe that the additional cost-cutting, coupled with the selling of subsidiaries, is the appetizer to CMVT [Comverse] ultimately selling its bread and butter" Comverse Network Systems subsidiary.
Comverse share prices have fallen to $16.57 a share from a 52-week high in May of $23.92. The FBR analysts reaffirmed their price target of $27 for the stock, citing the actions described in the unattributed Haaretz report.
Comverse's former chief executive, Jacob "Kobi" Alexander, was arrested in Namibia in September after a two-month manhunt. He is accused of involvement in backdating stock options and falsifying financial documents. His lawyers have repeatedly delayed extradition hearings in Namibia, where he has reportedly made political connections and pledged to invest millions of dollars.
Last Monday, the hearing was postponed again -- this time until Nov. 12.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Sun Sep 02, 2007 9:25 pm Post subject:
Child abuse hotline in Florida uses Verint Systems' Avaya software. Is it appropriate that such a demonstrably crooked company should be trusted to take charge of such sensitive and personal information? Which could itself be abused? Sounds to me as if this 'disaster proof' hotline could be a disaster in itself for vulnerable children!
The Florida Family Abuse Hotline is incorporating a new mobile communications system that can be used in a natural disaster or other event that requires closing the office.
The hotline — which fields calls from citizens, caseworkers and law enforcement officers reporting the suspected abuse and neglect of children and elderly adults — is located in the hurricane-prone Florida Panhandle city of Tallahassee and, therefore, needs a reliable backup system.
On a typical day, hotline agents handle between 1,000 and 1,500 calls.
Before installing the new system, the 24-hour hotline used backup phone lines installed in a remote office building. But the backup lines did not include the hotline’s call-routing and management software so service levels suffered.
The new system is called the Avaya Mobile Communications System, and it offers full-featured voice and data capabilities that can be quickly deployed to a temporary office, remote location or disaster site. MCS can be delivered in a rugged, mobile case on wheels or installed in a vehicle.
MCS supports analog, digital and IP communication devices and can provide connectivity using phone lines, data networks, cellular systems, satellites, radio or WiFi networks and the Internet.
The MCS selected by the Florida Family Abuse Hotline mirrors the capabilities of the hotline’s primary contact center. It features computer-telephony integration and the same statistical reports, announcements, user names and logins.
Avaya’s Call Center Express software allows the hotline staff to use one contact center software application to route and track abuse reports submitted by phone, fax or the Web, and Avaya’s Interactive Response platform makes general information available around the clock without an operator’s intervention.
What’s more, the hotline contact center also supports a crime intelligence unit hotline that did not have a backup system before MCS was implemented. This hotline handles calls from investigators and caseworkers pursuing abuse reports and child placements who need criminal background check on the parties involved.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Sun Sep 02, 2007 9:32 pm Post subject:
Child abuse hotline in Florida uses Verint Systems' Avaya software. Is it appropriate that such a demonstrably crooked company should be trusted to take charge of such sensitive and personal information? Which could itself be abused? Sounds to me as if this 'disaster proof' hotline could be a disaster in itself for vulnerable children!
The Florida Family Abuse Hotline is incorporating a new mobile communications system that can be used in a natural disaster or other event that requires closing the office.
The hotline — which fields calls from citizens, caseworkers and law enforcement officers reporting the suspected abuse and neglect of children and elderly adults — is located in the hurricane-prone Florida Panhandle city of Tallahassee and, therefore, needs a reliable backup system.
On a typical day, hotline agents handle between 1,000 and 1,500 calls.
Before installing the new system, the 24-hour hotline used backup phone lines installed in a remote office building. But the backup lines did not include the hotline’s call-routing and management software so service levels suffered.
The new system is called the Avaya Mobile Communications System, and it offers full-featured voice and data capabilities that can be quickly deployed to a temporary office, remote location or disaster site. MCS can be delivered in a rugged, mobile case on wheels or installed in a vehicle.
MCS supports analog, digital and IP communication devices and can provide connectivity using phone lines, data networks, cellular systems, satellites, radio or WiFi networks and the Internet.
The MCS selected by the Florida Family Abuse Hotline mirrors the capabilities of the hotline’s primary contact center. It features computer-telephony integration and the same statistical reports, announcements, user names and logins.
Avaya’s Call Center Express software allows the hotline staff to use one contact center software application to route and track abuse reports submitted by phone, fax or the Web, and Avaya’s Interactive Response platform makes general information available around the clock without an operator’s intervention.
What’s more, the hotline contact center also supports a crime intelligence unit hotline that did not have a backup system before MCS was implemented. This hotline handles calls from investigators and caseworkers pursuing abuse reports and child placements who need criminal background check on the parties involved.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Mon Sep 03, 2007 11:58 am Post subject: If you see anything suspicious please tell a member of staff
If you see anything suspicious please tell a member of staff
updated - 03Sep07 - by Tony Gosling – www.public-interest.co.uk
Verint Systems, the Israeli security company contracted to manage and operate London Underground’s CCTV network has become embroiled in a serious fraud case in New York. Ex Chief Executive of parent company Comverse Technologies, Jacob ‘Kobi’ Alexander faces legal action to bring him back to the U.S. for trial after absconding with $13 million and being arrested in Namibia.
Contractual arrangements are complicated by the collapse of Metronet which signed the thirty year CCTV contract with Verint ten months before the 7/7 London bombs.
The ‘stock option backdating’ scandal first came to light last year in the Wall Street Journal. Kobi Alexander is wanted for cheating shareholders out of nearly $6.5 million dollars by illegally backdating the buying and selling of lucrative stock options. Alexander is accused of laundering the money through accounts set up under fictitious names such as I. M. Fantom (I am phantom). The Securities and Exchange Commission, which regulates companies listed on the New York stock exchange, is seeking Alexander’s extradition from Namibia on 35 counts of fraud.
Verint Systems, meanwhile, was suspended from the New York NASDAQ list in February 2007 because it hadn’t filed financial statements required by law. Eyebrows have been raised particularly because Verint is entrusted with the safety and security of three million people a day on the tube.
Both companies are close relations with Western Intelligence Agencies. They provide telephone surveillance software and mobile phone voicemail software used to gather information on those suspected of being ‘terrorists’ or ‘subversives’. They are also one of the companies providing systems for recording phone calls automatically through numbered menu systems.
Possibly more worrying are the close links between these companies and the Israeli Army. Both Kobi Alexander and the present CEO of Verint are ex Israeli Army officers. Chief Executive of Verint, Daniel Bodner, was an officer in the Israeli Engineers.
Latest news is that the two companies, Comverse and Verint, plan to split. Kobi Alexander’s latest extradition hearing in Windhoek is on November 12th.
Serious concerns remain about the lack of London Underground CCTV images of the London Bombers on 7th July itself, as opposed to those published of a ‘dummy run’ of the bombing suspects two weeks earlier. Also an exercise on 7/7 by Visor Consultants with imaginary bombs at the exact four locations where the real bombs went off has raised more questions than it has answered.
Also to be considered is the vanishing CCTV footage from Stockwell Underground Station of the moments leading up to the killing of Brazilian Electrician Jean Charles De Menezes. LU staff handed checked and correct CCTV tapes over to the Metropolitan Police but were later told there was nothing on them.
The 2005 London bombs’ targeting of innocent members of the public mirrors attacks in 1980 at Bologna Railway Station in Italy where 85 people died, and the Oktoberfest beer festival in Munich where 13 perished. These bombings were later discovered to have been carried out by far-right fascist units of NATO’s Operation Gladio, not the left wing Red Brigades and Baader Meinhof as originally announced in the press.
These and other disturbing questions will only be answered, and the safety of London’s transport staff and travelling public restored by a full and open public enquiry into the events of 7th July 2005.
This article was commissioned for the RMT magazine.
Just to let people know this thread somehow managed to find its way into being moved to the private 7/7 forum so passwords on this forum have either been hacked or someone with a password has been censoring!
Which is annoying.
This is no mean story - it puts Mossad and the IDF firmly in the frame as possible 7/7 perpetrators.
They certainly had the motive but this story gives them the means and the opportunity.
http://en.wikipedia.org/wiki/Opportunity_(law)
comverse_crew.jpg
Description:
The Crooked Comverse Crew from here http://www.nasdaq.com/reference/hiresphotos/mo_031605_hires.jpg
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Sat Nov 17, 2007 9:27 pm Post subject:
Namibia again delays US software fugitive case
Mon 12 Nov 2007, 11:19 GMT
By John Grobler
WINDHOEK (Reuters) - Fugitive U.S. millionaire Jacob "Kobi" Alexander, who has pledged to invest millions of dollars in Namibia, on Monday won another delay in his extradition hearing, which was not expected before March 2008.
Namibia's lower court allowed a legal challenge against the appointment of Magistrate Petrus Unengu, as presiding officer over the hearing, to be heard first by Namibia's High Court.
Dressed in a black suit and grey shirt and accompanied by his wife Hannah, Alexander was told by Unengu that the case would be postponed to February 25.
Alexander, former chief executive of New York-based software maker Comverse Technology Inc., is wanted in the United States on several counts in connection with an alleged scheme to backdate millions of executive stock options at Comverse.
He has denied all charges, blaming poor advice from his financial and legal advisers.
Alexander, 55, has pledged to invest $14 million in businesses and charitable projects in Namibia, prompting critics to accuse him of buying influence.
Alexander's lawyer, Louis du Pisani, said the court registrar had informed him the High Court would probably not be able to deal with his case before March 2008, but he does not expect the hearing to take place before the end of next year.
"It's a rather complex matter with serious constitutional implications for the (Namibian) legal system that cannot be dispensed with in just a day or so," he told Reuters.
The defence wants Uaatjo Uanivi, the magistrate who freed the Israeli-born Alexander last October on bail of $1.4 million -- among the highest in Namibia's history -- to oversee the hearing.
Namibia's government has described Alexander as "very passionate" about the country and its 2.1 million people.
Du Pisani has denied allegations that his client was taking advantage of Namibia's poorly resourced legal system and said legal obstacles were of the Namibian government's own making.
Alexander's lawyers have testified in a bail hearing that he had transferred several million dollars to Namibia, bought a home and a new SUV, enrolled his children at a local private school and invested in politically well-connected businesses.
He has fought extradition since his arrest last year at his local golf estate home by Interpol officers, acting on a warrant issued by the U.S. Department of Justice.
Unengu told Alexander in court that the overburdened Namibian justice system meant another delay in the extradition hearing.
"It is a waste of your time and the court's time, but unfortunately there is nothing we can do about it," he said.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Sat Nov 17, 2007 9:35 pm Post subject:
Top Security clearance outfit now operating outside US financial law
No NASDAQ relisting in sight for Comverse
Comverse further delays financials
By GWEN ACKERMAN, BLOOMBERG
Nov 6, 2007
Comverse Technology Inc., the world's largest maker of voice-mail software, will probably miss its target to update previous financial reports by the end of the fiscal year on January 31.
The filings will be delayed because the company is evaluating how it recognizes revenue, New York-based Comverse said Monday.
"The company believes" revenue, including deferrals, won't be affected by the delay, and other accounting issues with a "material impact," may be uncovered, it said.
"Any restatements resulting from this review is not a reflection on our business, but an indication of our commitment to address any potential accounting issues, correct them, and put them definitively behind us," Chief Executive Officer Andre Dahan said in the statement. "We remain very optimistic about the strength of our business and its prospects."
Orders for Comverse products are surging as customers seek features such as photo sharing for their phones. Comverse said in September that its backlog of orders for the next year from customers such as T-Mobile International AG and Samsung Electronics Co. rose 12 percent from a year earlier to $848.6 million at the end of its second quarter.
Verint Systems Inc., a maker of technology to analyze phone, fax and Internet traffic, 58 percent owned by Comverse, said in a separate statement that it expected similar delays in its financial reporting.
The Nasdaq Stock Market delisted Comverse this year because of a federal investigation into its stock-options accounting.
The company plans to restate earnings for at least six years because of backdated options. Dahan said the delay was connected with an audit of Comverse's fiscal 2006 statements.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Wed Dec 05, 2007 11:55 am Post subject:
The Wall Street Journal which conducted the initial investigatioins into Verint Systms which led to the Securities and Exchange Commission prosecutions of Verint's board has now been taken over by Rupert Murdoch's News Corporation.
And It appears there was insider trading taking place in that deal too!
Murdoch admits he decides the political stance of his newspapers
Nov 24, 2007
LONDON (AFP) — News Corporation chief Rupert Murdoch has admitted that he has editorial control over which political party The Sun backs in a general election.
Murdoch added that the same applies for News of the World, The Sun's sister weekly tabloid, and on which political line the newspapers take over Britain's role in Europe, according to minutes of a cross-party interrogation of the media tycoon published late Friday.
THERESE POLETTI'S TECH TALES: Former CEOs Seem To Buy Their Way Out Of Backdating Charges
Dow Jones
December 13, 2007: 12:01 AM EST
SAN FRANCISCO, MarketWatch - A year and a half ago, the government gave the impression, short of handcuffing executives in their offices, that securities fraud associated with stock options backdating was a criminal offense.
In July, 2006, the chairman of the Securities and Exchange Commission and the top federal prosecutor for Northern California stood together under the glare of television lights and disclosed a multi-count indictment against the former chief executive and the head of human resources of Brocade Communications Systems.
It was a strong message to Silicon Valley and corporate America. The government, which said at the time it was investigating at least 80 cases where companies hid the financial impact of backdating stock options, considered that behavior criminal. With Kevin Ryan, then the U.S. attorney for the Northern District of California, sharing the dais with SEC chairman Christopher Cox, the implication was clear - violators could face federal prison.
More than a year after those grandiose statements and two big criminal victories this year in the Brocade case, the Feds don't seem as anxious to put CEOs behind bars, especially in Silicon Valley where options backdating was a widespread practice.
Greg Reyes, the former chief executive of Brocade (BRCD) was convicted of conspiracy and securities fraud, and is the only CEO who has gone to trial and now faces jail time. He is appealing his case.
Other high profile cases against CEOs include the former chief of Comverse Technology (CMVT) who is battling extradition after fleeing to Africa, and the former CEO of Engineered Support Systems Inc. in St. Louis, who was indicted in July.
Other criminal cases connected to stock options backdating have focused on positions such as general counsels, human resource chiefs and chief financial officers.
In these cases, we are being asked to believe that such underlings cooked up options backdating schemes on their own - under the noses of their bosses who, in many cases, still profited handsomely from the practice. To me, this looks like a double standard. Last summer, during the trial of Reyes, prosecutors said of Reyes and the CEO's office, "The buck stops here."
Instead, top-level officers are cutting deals. Last week, two former CEOs reached settlements with the SEC on civil allegations, and paid penalties and repaid their companies for not disclosing the impact of backdated options to investors. No criminal charges accompanied their settlements, although there is always the possibility that criminal cases will ensue.
In a notable, recent example, William McGuire, former CEO and chairman of UnitedHealth Group Inc. (UNH) agreed to give up more than $600 million in options and other benefits in two different settlements, including a $7 million civil penalty, in one of the largest settlement deals to date related to options backdating.
McGuire's settlement followed a similar - though much smaller - deal a few days earlier by a Silicon Valley luminary. Jack Gifford, the founder and former CEO of Maxim Integrated Products Inc. (MXIM), agreed to pay more than $800,000 in disgorgement, penalties and interest, without admitting or denying allegations. The SEC contended Maxim overstated net income by more than 10 percent for fiscal 2003 through 2005 due to its failure to disclose backdated options. Maxim's former CFO is facing a civil complaint from the SEC.
One reason there are fewer criminal cases is they have a much tougher burden of proof. They must be proven beyond a reasonable doubt. They can take much longer to investigate and are expensive to prosecute. The case that proceeded against Reyes took up many months and hours of two top prosecutors and others in the office, and the trial lasted for nearly six weeks.
The SEC has not typically shirked from accusing CEOs, and has many civil cases underway, but there are always more civil cases than criminal ones. Some of the SEC's many civil cases include allegations against well-known Silicon Valley leaders, such as the former CEO of Mercury Interactive, Amnon Landan, and Ken Schroeder, the former CEO of KLA-Tencor (KLAC).
But some legal experts believe there won't be too many more criminal charges forthcoming against CEOs related to options backdating. At one point, the SEC was investigating at least 160 companies for options backdating, but those cases are starting to close. At least 80 civil cases are open right now, according to the SEC. Criminal charges involving stock-options backdating have been filed against at least 10 defendants, according to the Department of Justice.
"I'm surprised we have not seen any criminal cases since the Reyes conviction, " said Peter Henning, a professor at Wayne State University in Michigan who specializes in white collar crime. "Maybe the prosecutors have a few more in the pipeline, but I suspect that they are going to leave most of the criminal investigations behind. Reyes was a pretty significant victory for the government."
Federal prosecutors in the Northern District of California declined to comment on future cases. A spokeswoman for the Southern District of New York said she cannot confirm nor deny any investigations where charges have not been filed. Other attorneys who have worked with backdating cases believe more charges could still ensue.
"Sometimes the facts lead to those at the top of a company, and sometimes they do not," said Department of Justice spokesman Evan Peterson. "The important thing is that we hold those who engage in illegal stock option backdating accountable no matter what their status within a corporation."
So far, according to the Department of Justice in Washington, at least three CEOs have been criminally charged to date. In addition to Reyes, other CEOs charged include Jacob "Kobi" Alexander, the former CEO of Comverse and Michael Shanahan, Sr., the former CEO of Engineered Support Systems, which now is owned by DRS Technologies Inc. (DRS).
But it still seems there has been a discrepancy among who is getting charged and who isn't. In one of the most notable Silicon Valley backdating cases, Apple Inc.'s (AAPL) former general counsel Nancy Heinen has been charged by the SEC, and former chief financial officer Fred Anderson agreed to settle charges with the agency and pay fines. But rock star CEO Steve Jobs, who is revered for his masterful turnaround and stewardship, was cleared by an internal probe by Apple, which said he did not understand the accounting implications of backdated options and that he did not benefit from them.
Why does that argument work for Jobs, who has not been charged by the SEC nor the DOJ, and yet Reyes, whose attorneys also said he did not understand the complex accounting of stock options, faces jail? Other CEOs such as Gifford and McGuire are paying fines.
If indeed the "buck stops here," with the CEO, it seems that there is something unfair, and perhaps political, about the way the Feds have proceeded with stock options backdating cases. The Reyes case, which many attorneys said was a very tough case to prove criminal intent because Reyes did not grant himself a single backdated option, appears to have been a poster child case to serve as a warning to CEOs.
It is also possible that the DOJ has changed its tune and now agrees with critics who have said stock options backdating cases were a tempest in a teapot. The wheels of justice turn slowly and more criminal charges may still be forthcoming. But it still seems unjust for some executives to face jail, while others are coughing up money and avoiding prison.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Sun Dec 30, 2007 10:40 pm Post subject: Crooks make good money!
Verint have turned their SEC investigation and prosecution into a reason to invest in them this Christmas. Many of the financial pages are talking about Comverse and Verint stocks as undervalued as a result of of being expelled from the New York Stock Exchange. In the corporate world that means the Securities and Exchange Commission can just go take a running jump, crooks make good money!
Quote:
Attention Shoppers: 3 Labor Day Stock Specials
Our first special is an IsraelNewsletter favorite, Comverse Technology (CMVT.PK). In fact, earlier in the day, I was speaking with a well-known analyst who follows the Israeli market and he agreed that his top pick now is Comverse. The stock has continued to get smashed and is 32% off it’s 52 week high. It makes sense that the continued drop is a result of the current market climate regarding how M&A deals are going to get done and many investors who figured Comverse to be “in play” are now worried that a deal won’t get done. Regardless of the M&A angle, the stock is now trading with a market cap of $3.3 billion, and let’s not forget that they still have $1.8 billion in cash, plus the value of their holdings in Verint Systems (VRNT.PK), and Ulticom (ULCM.PK). The stock looks really cheap at these levels and my hunch is that buyers today will be able to fund next years labor day BBQ with their gains.
http://israelnewsletter.com/2007/08/29/attention-shoppers-3-labor-day- stock-specials/
Verint Systems: Turnaround story for ‘08
http://www.inmoneytoday.com/2007/12/06/verint-systems-turnaround-story -for-08/
Looking for a former billion-dollar company that has fallen off most investors’ radar? Have a look at Verint Systems Inc. (OTC: VRNT). As part of the Comverse Technology, Inc. (OTC: CMVT) options backdating scandal, the company was delisted from the NASDAQ because of filing issues. Comverse was delisted as well, and its CEO fled to Africa after he was wanted by U.S. authorities. Verint is a leading provider of analytic software-based solutions for security and workforce-enterprise optimization. Their solution generates actionable intelligence through the collection, retention and analysis of various communication networks.
The company today received an upgrade from JP Morgan. The stock has gotten crushed over the last 2 years falling from a high of over $40 to today’s price in the $17.40 range. Business is doing well, and as that they are in the security space, that should help valuation. There has been speculation that either the parent Comverse will get bought or they will sell off their divisions, Verint among them. This sale would fetch a hefty premium, and with a market cap in the $500 million dollar range, this could get juicy for investors. Another potential catalyst, would be for them to get current in their filing and potentially regain the NASDAQ listing, which would get them back on institutional investors radar screen.
If you are looking for an interesting turnaround story for ‘08, check out Verint.
Quote:
........Federal prosecutors and judges in the Eastern District have seen two CEOs flee in recent years instead of showing up at court. The former head of Symbol Technologies, Tomo Razmilovic, fled to Sweden instead of surrendering to law enforcement on accounting fraud counts. Kobe Alexander, the former head of Comverse, flew overseas to Namibia instead of standing trial. Both men remain at large out of the reach of U.S. law enforcement........
http://www.wnbc.com/investigations/14971824/detail.html
Joined: 28 Jul 2005 Posts: 274 Location: North West London
Posted: Mon Jan 14, 2008 3:28 pm Post subject:
Ssh, keep it a secret ...
I spoke to Metronet's public liason officer Roger Perkins and he had apparently never heard of Verint Systems, and also seemed to have no idea who ran the Underground's CCTV cameras. Ditto for Tubelines, where I spoke to Paul Lehman, Head of Public Affairs - he doubted Verint's existrence and had never heard of it. He added, that it might be more London Underground's business. (NB, Metronet run the Circle line, Tubelines run the Piccadilly line). I then spoke to Peter MacLennan, Chief Public Affairs Officer of London Underground and Rail, and he likewise appeared never to have heard of Verint. He explained the subtle distinction, that LU staff operate the CCTV cameras on a day-to-day basis, while Metronet & Tubelines install the equipment.
If this company really is 'contracted to manage and operate London Underground’s CCTV network' as Tony Gosling assures us, they are keeping a mighty low profile about it. Well who knows, mebbe Verint Systems of Weybridge, Surrey will give us an answer.
London Underground to Improve Railway Security with Verint Networked Video Solution
Deployment Follows Successful Completion of Extensive Evaluation Phase
MELVILLE, N.Y., September 20, 2004 – Verint Systems Inc. (NASDAQ: VRNT), a leading provider of analytic software-based solutions for communications interception, networked video security and business intelligence, today announced that Metronet Rail has selected Verint’s Networked Video Solution to enhance security of the London Underground and to ensure a safe environment for railway passengers. Metronet Rail has responsibility for maintaining certain parts of London Underground's infrastructure, including trains, stations, tunnels and bridges, under a 30 year contract with the UK government.
London Underground is one of the largest underground transportation systems in the world handling 3 million passengers a day. As part of an ongoing strategy to enhance security and improve customer service, Metronet Rail will be deploying Verint’s Networked Video Solution across selected rail lines of the London Underground. The solution will enable operations and rail security personnel to enhance security by monitoring passenger platforms and certain remote portions of the track. Verint was selected after completing an extensive evaluation, including pilots at several rail lines.
“We are delighted to be helping the London Underground meet their important security and customer service objectives,” said Dan Bodner, President and CEO of Verint. “We have significant experience working with transportation authorities and are committed to delivering innovative networked video security solutions for the transportation industry.”
Verint’s Networked Video Solution enables government and commercial organizations to enhance the security of their facilities by networking video across multiple locations and applying advanced content analytics to extract actionable intelligence from live and stored video. By alerting security personnel to potential security threats, Verint’s Networked Video Solution is designed to help organizations prevent security breaches and improve response time.
Joined: 28 Jul 2005 Posts: 274 Location: North West London
Posted: Tue Jan 15, 2008 6:47 pm Post subject:
I think we're all aware, Ian, that back in September 2004 an announcement was made, on Israeli news, of a contract for Verint’s 'Networked Video Solution' to be used to 'enhance security of the London Underground and to ensure a safe environment for railway passengers.' Not a peep has been heard of this agreement, from any UK media source. Are Verint in some way supplying or maintaining CCTV cameras on the LU? I only receive categorical denials and stonewalling when I ask Tubelines (at Canary Wharf), Metronet (Holborn) and Transport for London (in Victoria) about this - though they are quite happy to discuss other matters.
By the way, I find its best to go to these places, just breeze in, and start talking, then with luck one gets to see someone. A mere phone call and one tends to be fobbed off right away - or, that's what I seem to have found.
I found that Roger Perkins, of Metronet Rail, was willing to discuss in great detail the public-private partnership, the remit of Metronet, its financial problems, etc, but as soon as the name 'Verint Systems' was mentioned he became quite blank, but said however that he would look into the matter, and then only e-mailed me:
Quote:
As I mentioned before, I am afraid I will not discuss matters relating to security on the Underground. I am sorry to disappoint you.
Regards,
Roger
Media Relations Manager
Metronet Rail, Templar House, 81-87 High Holborn, London WC1V 6NU, UK
Email: roger.perkins@metronetrail.com
Peter MacLennan, TfL:
Quote:
As noted in our conversation yesterday, the maintenance and renewal of the Tube's CCTV system is undertaken by the infrastructure companies, Tube Lines and Metronet. Under the Public Private Partnership, it is for these companies to determine who supplies them with CCTV equipment, rails, track and other subway-related equipment and therefore I am unaware about who supplies specific pieces of equipment that may be used in our CCTV system. London Underground's retains responsibility for the staffing of stations, signalling rooms and trains which all enable a Tube service to be provided each day. This means that London Underground is responsible for operating the Tube's CCTV system and ensuring that the operation of the system complies with data protection legislation.
Rob Wint, Marketing Director, Verint Systems (Weybridge, Surrey)
Quote:
Thank you for your enquiry, however we do not have a report that details this at all. What specifically are you looking at this for?
- so, he has not denied it. That was in response to my query, 'Is it correct, that your Verint Systems run the CCTV cameras on the Piccadilly line for Metronet, but not those on eg the Circle line owned by Tubelines?'
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Tue Jan 15, 2008 8:39 pm Post subject:
Privatised Tube contracts secret
nice work astro
You have hit a sheer wall of ice. Why might that be? I would conjecture that, aware of their problems with their CEO running off with millions of dollars and scores of outstanding criminal charges against three directors, and acutely aware of how adverse publicity would hit their share price, Comverse Technologies have issued advice that, because of their close links to MI5 and MI6, all their activities are to be kept secret.
Quote:
Israeli company picked to improve London Underground security
Sep. 21, 2004 - Verint Systems, a subsidiary of Israel's Comverse Technology announced that Metronet Rail has selected Verint's networked video solution to enhance security of the London Underground. Metronet Rail has responsibility for maintaining certain parts of the London Underground's infrastructure, including trains, stations, tunnels and bridges, under a 30 year contract with the UK government. The London Underground is one of the largest underground transportation systems in the world handling 3 million passengers a day. As part of an ongoing strategy to enhance security and improve customer service, Metronet Rail will be deploying Verint's networked video solution across selected rail lines of the London Underground. The solution will enable operations and rail security personnel to enhance security by monitoring passenger platforms and certain remote portions of the track. Verint was selected after completing an extensive evaluation, including pilots at several rail lines. Verint president and CEO Dan Bodner said, "We have significant experience working with transportation authorities and are committed to delivering innovative networked video security solutions for the transportation industry."
http://www.israel21c.org/bin/en.jsp?enPage=BlankPage&enDisplay=view&en DispWhat=Zone&enDispWho=InThePress&enZone=InThePress&Date=9/21/04%2011 :00%20PM
Of course since the CCTV contract is a matter of public record it's immediately suspicious that they are using security grounds to justify a gag on admitting the contract exists. I would imagine some awkward questions, may have been being asked already, possibly by the GLA, hence this policy.
This is one of the most chilling aspects of the whole 7/7 story, that by entering a tube station we pass into a twilight world where anything could happen, including explosions.
Officials deny everything and neither press nor public are allowed to ask questions.
astro3 wrote:
Are Verint in some way supplying or maintaining CCTV cameras on the LU? I only receive categorical denials and stonewalling when I ask Tubelines (at Canary Wharf), Metronet (Holborn) and Transport for London (in Victoria) about this - though they are quite happy to discuss other matters.
By the way, I find its best to go to these places, just breeze in, and start talking, then with luck one gets to see someone. A mere phone call and one tends to be fobbed off right away - or, that's what I seem to have found.
Metronet's denials particularly, indicate that we are on the right track with this line of enquiry into possible terrorist collaborators, even perpetrators within Verint.
I found that Roger Perkins, of Metronet Rail, was willing to discuss in great detail the public-private partnership, the remit of Metronet, its financial problems, etc, but as soon as the name 'Verint Systems' was mentioned he became quite blank, but said however that he would look into the matter, and then only e-mailed me:
Quote:
As I mentioned before, I am afraid I will not discuss matters relating to security on the Underground. I am sorry to disappoint you.
Regards,
Roger
Media Relations Manager
Metronet Rail, Templar House, 81-87 High Holborn, London WC1V 6NU, UK
Email: roger.perkins@metronetrail.com
Peter MacLennan, TfL:
Quote:
As noted in our conversation yesterday, the maintenance and renewal of the Tube's CCTV system is undertaken by the infrastructure companies, Tube Lines and Metronet. Under the Public Private Partnership, it is for these companies to determine who supplies them with CCTV equipment, rails, track and other subway-related equipment and therefore I am unaware about who supplies specific pieces of equipment that may be used in our CCTV system. London Underground's retains responsibility for the staffing of stations, signalling rooms and trains which all enable a Tube service to be provided each day. This means that London Underground is responsible for operating the Tube's CCTV system and ensuring that the operation of the system complies with data protection legislation.
Rob Wint, Marketing Director, Verint Systems (Weybridge, Surrey)
Quote:
Thank you for your enquiry, however we do not have a report that details this at all. What specifically are you looking at this for?
- so, he has not denied it. That was in response to my query, 'Is it correct, that your Verint Systems run the CCTV cameras on the Piccadilly line for Metronet, but not those on eg the Circle line owned by Tubelines?'
Of course since the CCTV contract is a matter of public record it's immediately suspicious that they are using security grounds to justify a gag on admitting the contract exists. I would imagine some awkward questions, may have been being asked already, possibly by the GLA, hence this policy.
This is one of the most chilling aspects of the whole 7/7 story, that by entering a tube station we pass into a twilight world where anything could happen, including explosions.
And the Labour organ grinder donor story is not in any way connected?
I hear Rothschild has been feathering Oliver Letwin's nest. Looks like the fix is in already. I bet they have compromised situations all over the place. Step outa line and their press gets to work.
Chilling indeed.
Ben Nethenyu saying US will nuke Iran. Also he said 'We control America' and of course MOSSAD are all over and under the UK. Everywhere really. _________________ Belief is the Enemy of Truth www.dissential.com
The Wall Street Journal which conducted the initial investigatioins into Verint Systms which led to the Securities and Exchange Commission prosecutions of Verint's board has now been taken over by Rupert Murdoch's News Corporation.
And It appears there was insider trading taking place in that deal too!
Murdoch admits he decides the political stance of his newspapers
Nov 24, 2007
LONDON (AFP) — News Corporation chief Rupert Murdoch has admitted that he has editorial control over which political party The Sun backs in a general election.
Murdoch added that the same applies for News of the World, The Sun's sister weekly tabloid, and on which political line the newspapers take over Britain's role in Europe, according to minutes of a cross-party interrogation of the media tycoon published late Friday.
In 1992, after the Conservatives won the British general election, The Sun's front page boasted: "It was the Sun wot won it." In 1997, The Sun instructed its readers to vote Labour and indeed later that year the party won re-election after almost two decades in opposition.....
http://afp.google.com/article/ALeqM5g_xv81gwtgRkvB1d_4hynx9P0dyg
Quote:
BIOGRAPHICAL details of [Rupert] Murdoch's past are sketchy and often contradictory. One reads that his grandfather was an impoverished Presbyterian minister who migrated to Australia from England, that his father was a low-paid reporter for a British newspaper in Australia, and yet, young Rupert divided his time between his family's suburban home near Melbourne and the family's sheep ranch in the country. He was educated first at the fashionable Geelong private school, and went on to the elitist and aristocratic Oxford University in England.
"Rupert's father Sir Keith Murdoch [see below] attained his prominent position in Australian society through a fortuitous marriage to the daughter of a wealthy Jewish family, née Elisabeth Joy Greene. Through his wife's connections, Keith Murdoch was subsequently promoted from reporter to chairman of the British-owned newspaper where he worked. There was enough money to buy himself a knighthood of the British realm, two newspapers in Adelaide, South Australia, and a radio station in a faraway mining town. For some reason, Murdoch has always tried to hide the fact that his pious mother brought him up as a Jew...
And that, as I am sure you know, makes him a Jew according to the law of the Talmud, and indeed according to the present laws of Israel.
Joined: 28 Jul 2005 Posts: 274 Location: North West London
Posted: Wed Jan 16, 2008 8:51 am Post subject:
Don't ask the London Underground
You're being photographed all the time while on Underground stations, but don't expect the London Underground to tell you who is providing the cameras. Here is a final letter from TfL's Head of Public Affairs, Peter MacLennan, about Verint Systems - passing the buck:
Quote:
London Underground does not have a contract with the aforementioned company for the provision of CCTV services.
Under the Public Private Partnership, the public sector body London Underground is responsible for operating the train service and staffing stations and signalling centres.
The private sector infrastructure companies, Tube Lines and Metronet, are responsible for the renewal and maintenance of the Tube network including the provision of CCTV. London Underground staff operate the provided CCTV system.
Contracts between the infrastructure companies and their suppliers is a matter for them.
With best wishes
Peter MacLennan
But, happily, Metronet now (16.1.0confirm this contract -
Quote:
While Metronet has taken the decision not to discuss issues relating to safety and security, contracts are, of course, awarded to suppliers for the provision of CCTV infrastructure.
A contract was awarded to this company which is one of the world's largest suppliers which they subsequently confirmed to trade and technical press through the provision of a press notice.
Regards,
Roger
ROGER PERKINS
Media Relations Manager
Metronet Rail
Odd that neither of them are able to bring themselves to utter the name of this company, Verint Systems; odder still that we have heard not a single peep from any UK media source, over the awarding to a foreign firm the ability to spy on British citizens - a matter central to LU security; a firm whose shares are 57% owned by a scandal-ridden firm specialising in wiretapping, etc.
Odd that neither of them are able to bring themselves to utter the name of this company, Verint Systems; odder still that we have heard not a single peep from any UK media source, over the awarding to a foreign firm the ability to spy on British citizens - a matter central to LU security; a firm whose shares are 57% owned by a scandal-ridden firm specialising in wiretapping, etc.
It would be odd if the media, the politicians and the police were not in on the act. The silence on this particular issue is deafening.
Indeed it is indicative that the 'war on terror' is stagemanaged.
Like US musicals dominate the West End theatre scene of late, so do foreign based security companies dominate all the 'terror' shows...
Joined: 28 Jul 2005 Posts: 274 Location: North West London
Posted: Fri Jan 18, 2008 3:48 pm Post subject:
Verint Systems in the UK supply digital video technology used in CCTV cameras to Metronet. The technology is developed in Canada, Germany, America and Hong Kong. Verint grew out of an Israeli company but is now legally American. After July 7th 2005, its engineers were called back from holiday to extract the well over 100,000 hours of video recording from CCTV cameras which the police had requested, to be stored on DVDs, hard drives etc. Whether they provide anything comparable for Tubelines seems to be rather confidential and Verint are not at liberty to discuss it, ditto for CCTV on street cameras, buses etc.
Source: Matthew Fletcher, Verint Product Manager UK
NB Stockwell on the Northern line is managed by Tubelines not Metronet, so its not clear who manages their CCTV cameras.
Ofcourse this is odd.
What is even more odd is i raised this subject with George Galloway during a face to face conversation, i figured him as an anti zionist so i guessed he would use this as ammunition against Ken Livingstone.
However, to my surprise he never ever mentioned it ever, and indeed now has endorsed Ken Livingstone rather than even his own party candidate.
I also have brought this to the attention of many other people but it has never been repeated in public.
It really is an almighty cover up.
And indeed the Israelis have been awarded even more contracts since 2004, UK airports, Hospitals, etc
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