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Crooked Israeli firm's pre 7/7 access to tube tunnels
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Caz
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PostPosted: Sun Jul 31, 2011 5:51 am    Post subject: Reply with quote

It's remarkable how quickly primary source material vanishes from the internet.

Checking what is being said re Verint running the London Underground CCTV, it seems that press releases from Verint's own website is a reasonable source for this story.

However, links currently not active:

http://verint.com/corporate/releases_view.cfm?article_level1_category_ id=7&article_level1_id=245&pageno=1&year=2002 (Verint press release on Vancouver Airport contract)

http://verint.com/corporate/releases_view.cfm?article_level1_category_ id=7&article_level1_id=360&pageno=1&year=2004 (Verint press release on London Underground contract)

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Caz
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PostPosted: Sun Jul 31, 2011 12:02 pm    Post subject: Reply with quote

Evidence for Verint running London train CCTV:

Overground:

http://www.cctvnewsportal.com/cctv_news.asp?articleid=264213&arttitle= London%20Overground%20deploys%20Nextiva%20IP-based%20video%20solution% 20from%20Verint%20Video%20Intelligence%20Solutions

Underground:

http://www.sourcesecurity.com/companies/micro-site/verint-systems/news  /co-1753-ga.569.html
Quote:
Verint Solutions for Mobile Transportation
Verint has recently provided solutions for many rail organisations looking to improve CCTV operations including London Underground, DSB Copenhagen, Montreal Metro and Santa Clara Valley.
Verint Systems delivers a range of mobile DVRs, cameras and monitors, built for value and durability and ideally suited to meet these demands.
Verint's mDVR Digital Video Recorders are designed to provide high-quality video surveillance on-board buses and trains, delivering MPEG-4 recording and transmission for up to 12 camera inputs and a rate of up to 300 frames per second (FPS). The mDVR Series provides reliable on-board recording and can transmit images or alarms for remote monitoring over a wireless, GPRS, 3G or UMTS network connection.
Complementing mDVR Series, Verint's Mobile Cameras are vandal resistant and equipped with rounded edges to protect against passenger injury. Verint's cameras deliver clear, crisp images under virtually any lighting conditions, and can send those images to multiple monitors on a train, tram or bus, giving operators real-time visibility to activities taking place throughout the vehicle.


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Caz
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PostPosted: Sun Jul 31, 2011 12:59 pm    Post subject: Reply with quote

Considering the plethora of contradictory and unsubstantiated statements made by various truther websites and blogs on the internet with respect to Comverse and Verint, the following is in fact the case with respect to company registration for these two companies (from Companies House website, UK):

Quote:
Name & Registered Office:
COMVERSE KENAN UK
ADELPHI HOUSE
1-11 JOHN ADAM STREET
LONDON
WC2N 6HT
Company No. 02722892
Status: Active
Date of Incorporation: 15/06/1992
Country of Origin: United Kingdom
Previous Names:
Date of change Previous Name
29/06/1992 HACKREMCO (NO.764) LIMITED
14/09/1998 BYTEL LIMITED
06/02/2006 CSG INTERNATIONAL

Quote:
Name & Registered Office:
VERINT SYSTEMS UK LIMITED
241 BROOKLANDS ROAD
WEYBRIDGE
SURREY
KT13 0RH
Company No. 02602824
Status: Active
Date of Incorporation: 18/04/1991
Country of Origin: United Kingdom
Previous Names:
Date of change Previous Name
07/05/1991 WORLDCLASS TECHNOLOGY LIMITED
04/02/2002 COMVERSE INFOSYS UK LIMITED
05/02/1999 COMVERSE TECHNOLOGY (EUROPE) LIMITED

.


Last edited by Caz on Sun Jul 31, 2011 3:46 pm; edited 1 time in total
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TonyGosling
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PostPosted: Sun Jul 31, 2011 8:20 pm    Post subject: Reply with quote

Appreciate your point of view Sean but absolutely fed up with your inability to post anywhere near the correct thread dominating and poisoning those discussions
You had a warning a couple of weeks ago so now I'm suspending you for posting all this verint stuff on the Andy Coulson thread
Also demoting Caz for the same reason.

Life wrote:
The Murdoch story and his ( I say that flippantly) News International looks more like a scapegoat story as it expands, I mean, why is everyone getting excited over hacking by operations which give us news and so act in the public interest?

As Caz clearly presents, the real story comes in the abilities through creating the platforms and operating systems, upon which everything electronic communication depends. This gives the companies absolute access at all times using voice and ip recognition, activating recorders of all descriptions and systems which pass on those recordings to whomever.

Surely you can see this equates to 24-7 365 days a year hacking eternally, without the public ever getting to take an interest based in the fact...they don't know of it?

Murdoch will take the fall for the Committee of 300, as planned, handing what was at the the least a good source of skullduggery exposure, perhaps formed to serve the elites, but the people had a glimpse into the workings of power.

My question is....what will take the place of the News of the World?

Very Happy

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Caz
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PostPosted: Sun Aug 14, 2011 5:05 pm    Post subject: Reply with quote

Caz wrote:
Considering the plethora of contradictory and unsubstantiated statements made by various truther websites and blogs on the internet with respect to Comverse and Verint, the following is in fact the case with respect to company registration for these two companies (from Companies House website, UK):

Quote:
Name & Registered Office:
COMVERSE KENAN UK
ADELPHI HOUSE
1-11 JOHN ADAM STREET
LONDON
WC2N 6HT
Company No. 02722892
Status: Active
Date of Incorporation: 15/06/1992
Country of Origin: United Kingdom
Previous Names:
Date of change Previous Name
29/06/1992 HACKREMCO (NO.764) LIMITED
14/09/1998 BYTEL LIMITED
06/02/2006 CSG INTERNATIONAL

Quote:
Name & Registered Office:
VERINT SYSTEMS UK LIMITED
241 BROOKLANDS ROAD
WEYBRIDGE
SURREY
KT13 0RH
Company No. 02602824
Status: Active
Date of Incorporation: 18/04/1991
Country of Origin: United Kingdom
Previous Names:
Date of change Previous Name
07/05/1991 WORLDCLASS TECHNOLOGY LIMITED
04/02/2002 COMVERSE INFOSYS UK LIMITED
05/02/1999 COMVERSE TECHNOLOGY (EUROPE) LIMITED

.


Since this is evidence for company registration of Comverse and Verint as UK companies, perhaps the title of this thread could be renamed to conform to the substantiated evidence as to where these companies actually come from.........

Rather than: 'Crooked Israeli firm's pre 7/7 access to tube tunnels'

it should be titled 'Crooked British firm's pre 7/7 access to tube tunnels'.

This ought to be changed to reflect the evidence. If evidence is of any importance.

Unless anyone has other evidence which suggests otherwise.

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Andrew.
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PostPosted: Thu Aug 18, 2011 10:27 am    Post subject: Reply with quote

Quote:
Since this is evidence for company registration of Comverse and Verint as UK companies, perhaps the title of this thread could be renamed to conform to the substantiated evidence as to where these companies actually come from.........

Rather than: 'Crooked Israeli firm's pre 7/7 access to tube tunnels'

it should be titled 'Crooked British firm's pre 7/7 access to tube tunnels'.

This ought to be changed to reflect the evidence. If evidence is of any importance.

Unless anyone has other evidence which suggests otherwise.



"Name & Registered Office:
COMVERSE KENAN UK
ADELPHI HOUSE
1-11 JOHN ADAM STREET
LONDON
WC2N 6HT
Company No. 02722892
Status: Active
Date of Incorporation: 15/06/1992
Country of Origin: United Kingdom
Previous Names:
Date of change Previous Name
29/06/1992 HACKREMCO (NO.764) LIMITED
14/09/1998 BYTEL LIMITED
06/02/2006 CSG INTERNATIONAL "



If your trying to tell us Caz that the committee of 300 has a hand in this. Then it's in Britain, but not for Britain and its people; as with all they do. Nor will it benefit israelis (not that they are Israel) long term.


Quote:

http://en.wikipedia.org/wiki/Comverse_Technology
By 2005, the company had $959 million in sales and employed over 5,000 people, of whom about half were located in Israel.[15] That country held most of the research and development workers, many of whom occupied the company's seven buildings on HaBarzel in the Ramat HaHayal district of Tel Aviv, while business and marketing operations were stationed in the company's Woodbury, New York headquarters.[15]


Quote:


http://en.wikipedia.org/wiki/Verint_Systems
Verint Systems (NASDAQ: VRNT) is a company providing analytic software and hardware for the security, surveillance, and business intelligence markets.[1] Their products are aimed to support government and enterprises in making sense of the vast information they collect to meet performance and security goals. Verint solutions are used by more than 10,000 organizations in 150 countries.[2] Verint is headquartered in Melville, New York, with offices worldwide and some 2,600 employees around the globe. Verint is a 57 percent-owned subsidiary of Comverse Technology[3] and it was formerly known as Comverse Infosys.[4] As with Comverse, approximately half of Verint's employees have been located in Israel.[4]
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TonyGosling
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PostPosted: Thu Aug 18, 2011 6:48 pm    Post subject: Reply with quote

Comverse Technology, Inc. (Pink Sheets: CMVT), originally founded in Israel, is a technology company located in Woodbury, New York in the United States.....................

Comverse Technologies is an Israeli company, subsidised by ther Israeli government, which used to be called Comverse Infosys until the AmDocs scandal in 2001 when they changed their name.

As you point out Comverse subsequently formed a UK subsidiary for whatever reason such as to get round UK vetting or tax laws.

Now back to the real story:

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Last edited by TonyGosling on Thu Aug 18, 2011 7:10 pm; edited 1 time in total
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PostPosted: Thu Aug 18, 2011 7:09 pm    Post subject: Reply with quote

Kobi Alexander plea deal would end exile
US Attorney Loretta Lynch: Alexander fled halfway around the world, but he was not able to escape the financial consequences of his crimes.
24 November 10 12:25, Ran Dagoni, Washington
Following a settlement with the US Securities and Exchange Commission (SEC) of the civil charges against him, former Comverse Technology Inc. (Pink Sheets: CMVT) CEO Kobi Alexander's next task will be to reach a plea bargain with the federal prosecutor, which will enable him to end his Namibian exile. A plea bargain would be Alexander's first step in dealing with the criminal charges against him.
A plea bargain could enable Alexander to plead guilty to lesser charges in exchange for the prosecutor withdrawing the more serious charges, and possibly even avoid jail time, provided that he surrenders to the US authorities. The US authorities have so far been unable to persuade the Namibian courts to extradite Alexander to the US, which might be an important bargaining chip held by Alexander's legal team in potential negotiations with federal prosecutors.
Yesterday, Alexander agreed to pay $53.6 million to end civil actions by US prosecutors and regulators. The sum includes a $6 million penalty, and $47 million in disgorgement and interest. The $47 million will paid through a forfeiture order against Alexander's assets in the US. As part of the settlement, prosecutors agreed to return forfeited funds to Comverse investors, per terms of existing shareholder lawsuits.
The lawsuits and federal charges filed in 2006 stem from the options backdating scandal. Instead of appearing in court, Alexander fled the US to Namibia, with which the US has no extradition treaty. He has since been living in a luxury house at the edge of a golf course in the capital, Windhoek, together with his wife and children.
Both the federal prosecutors and Alexander's attorney in New York declined to respond to questions about a possible plea bargain with Alexander.
Attorney Jeremy Temkin told "Globes", "Completely theoretically, irrespective of Alexander, any deal of a suspect with the authorities is definitely possible, but I cannot respond in the case of Kobi."
Temkin said, "Mr. Alexander is pleased to have resolved the SEC and civil-forfeiture actions and to put these matters behind him."
A federal prosecutor spokesman said that as far as the US authorities are concerned, Alexander is a fugitive and that efforts to extradite him from Namibia were going ahead at full speed. The spokesman said, "Settlement of the civil proceedings against Mr. Alexander has no effect on the criminal proceedings against him. The moment he sets foot in the US, he will be arrested, brought to court, and he can expect imprisonment and/or a fine at the decision of the judge."
"Alexander fled halfway around the world, but he was not able to escape the financial consequences of his crimes,” US Attorney Loretta Lynch in Brooklyn said in the statement. She added that the case emphasized the important role of forefeiture in returning stolen funds to victims.
http://www.globes.co.il/serveen/globes/docview.asp?did=1000603345&fid= 1725

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PostPosted: Thu Aug 18, 2011 11:24 pm    Post subject: Reply with quote

http://en.wikipedia.org/wiki/Comverse_Technology


now back to the real story again:

Fugitive ex-Comverse CEO pays $54 mln in US accord
Tue Nov 23, 2010 4:05pm EST
* Alexander to forfeit $47.6 mln, pay $6 mln SEC fine
* Defendant fighting extradition over criminal charges
By Jonathan Stempel
NEW YORK, Nov 23 (Reuters) - Jacob "Kobi" Alexander, the fugitive former chief executive of Comverse Technology Inc (CMVT.PK), agreed to pay $53.6 million to resolve U.S. government litigation over the backdating of stock options.
Alexander is in Namibia, where he was arrested in September 2006 after a global manhunt. He has been fighting extradition following his indictment in the United States on 32 charges including securities fraud, money laundering and conspiracy.
Tuesday's settlement resolves a U.S. Securities and Exchange Commission lawsuit, as well as a civil forfeiture action by U.S. prosecutors that covers Alexander's wife, Hana.
It includes a $6 million fine payable to the SEC, and does not affect the government's criminal case. The settlement requires court approval. Alexander did not admit wrongdoing.
http://www.reuters.com/article/2010/11/23/comverse-alexander-settlemen t-idUKN2316099420101123

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PostPosted: Thu Apr 26, 2012 11:18 am    Post subject: Reply with quote

the unthinkable
proof that former senior israeli military engineers were crawling all over tube security systems from six months before 7/7
Daniel Bodner
Verint Systems

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PostPosted: Sun Apr 29, 2012 3:57 pm    Post subject: Reply with quote

Ever wondered why you never saw any CCTV of the 4 alleged bombers on the underground trains nor getting on or off them?
Ever wondered who was in charge of that CCTV that day?


Verint Systems – www.verint.com
All activities of this business are directed by Comverse Technology who own 57% controlling stock. Two thirds of Verint’s business is security products used by law enforcement and intelligence services to intercept voice, video and email traffic, the other third is call centre monitoring and employee evaluation software. Approx 1000 employees worldwide. Awarded contract for all London Underground’s CCTV in September 2004 by privatised 'Metronet Rail' who, in turn, have a 30 year contract from the UK government to manage London Underground security. Privatisation was imposed against wishes of elected Greater London Authority (GLA) by Gordon Brown’s Treasury Department.



Verint CEO Daniel Bodner is a former senior Israeli army officer who gets $4m annual benefits (including salary). Verint currently being investigated by Office of Fair Trading (OFT) and Securities and Exchange Commission (SEC) over proposed merger with Witness Systems Inc. for possible phone monitoring technology monopoly. Verint rumoured to be targeted by IBM for takeover.
‘Nextiva Transit’ is Verint’s networked hi-tech CCTV system now being installed on ‘London Underground platforms and remote portions of track’. The system is programmed to automatically ‘watch for people loitering on transit platforms or people wearing heavy coats on hot summer days’.



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PostPosted: Sat Jul 28, 2012 12:42 pm    Post subject: Reply with quote

YouTube is now blocking this video so watch it & download while you can

911, The Israeli Connection - AmDocs Spy Scandal - 4 Part Series (Fox News 2001)

Link


Verint Systems (used to be called Comverse Infosys before AmDocs scandal), Comverse Technologies FOX News - 911 The Israeli Connection - Spy Scandal - 4 Part Series (Dec. 2001) How Israeli Backdoor Technology Penetrated the U.K. Government's Telecom System and Compromised National Security ".........Another anonymous source – a former CIA operative – tells me that U.S. intelligence agents who have aired their concerns about Verint and Amdocs have found themselves attacked from all sides. “Once it’s learned that an individual is doing footwork on this [the Verint/Amdocs question], he or she is typically identified somehow as a troublemaker, an instigator, and is hammered mercilessly,” says the former CIA operative. “Typically, what happens is the individual finds him or herself in a scenario where their retirement is jeopardized – and worse. The fact that if you simply take a look at this question, all of a sudden you’re an Arabist or anti-Semitic – it’s pure baloney, because I will tell you first-hand that people whose heritage lies back in that country have heavily worked this matter. You can’t buy that kind of dedication.” The former CIA operative adds, “There is no defined policy, at this time, for how to deal with this [security issues involving Israel] – other than wall it off, contain it. It’s not cutting it. Not after 9/11. The funeral pyre that burned on for months at the bottom of the rubble told a lot of people they did not need to be ‘politically correct.’ The communications nexuses [i.e. Amdocs/Verint] didn’t occur yesterday; they started many years ago. And that’s a major embarrassment to organizations that would like to say they’re on top of things and not co-opted or compromised. As you start to work this, you soon learn that many people have either looked the other way or have been co-opted along the way. Some people, when they figure out what has occurred, are highly embarrassed to realize that they’ve been duped. Because many of them are bureaucrats, they don’t want to be made to look as stupid as they are. So they just go along with it. Sometimes, it’s just that simple.”

http://www.counterpunch.org/ketcham09272008.html

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PostPosted: Sat Jul 28, 2012 12:48 pm    Post subject: Reply with quote

U.S. SECURITIES AND EXCHANGE COMMISSION
http://www.sec.gov/litigation/litreleases/2010/lr21753.htm

Litigation Release No. 21753 / November 23, 2010
Accounting and Auditing Release No. 3215 / November 23, 2010
Securities and Exchange Commission v. Jacob (“Kobi”) Alexander, et al., United States District Court for the Eastern District of New York, Civil Action No. 06-CV-3844 (E.D.N.Y.) (NGG)
SEC SETTLES OPTIONS BACKDATING CASE AGAINST JACOB “KOBI” ALEXANDER, FORMER CEO OF COMVERSE TECHNOLOGY, INC.; RELIEF INCLUDES OFFICER-AND-DIRECTOR BAR AND MORE THAN $53 MILLION IN DISGORGEMENT, PREJUDGMENT INTEREST, AND CIVIL PENALTIES

The Securities and Exchange Commission today settled civil charges against Jacob “Kobi” Alexander, the co-founder and former Chairman and Chief Executive Officer of Comverse Technology, Inc., arising out of his role in the company’s long-running stock options backdating scheme. This settlement resolves the Commission’s long-standing action against Alexander. Under the terms of the settlement, Alexander will pay $47.6 million in disgorgement and prejudgment interest and a $6 million penalty, which is one of the largest penalties ever imposed in a stock options backdating case. Alexander will also be permanently enjoined from violating the antifraud and related provisions of the federal securities laws and will be permanently barred from serving as an officer or director of a public company.

On August 9, 2006, the Commission filed a civil action in U.S. District Court for the Eastern District of New York alleging that Alexander and two other former Comverse senior executives engaged in a decade-long fraudulent scheme to grant in-the-money options to themselves and to others by backdating stock option grants to coincide with historically low closing prices of Comverse common stock. The Complaint also alleges that Alexander created a slush fund of backdated options by causing options to be granted to fictitious employees and, later used these options, some of which were made immediately exercisable, to recruit and retain key personnel. As part of the scheme, the former executives made material misrepresentations to Comverse investors regarding Comverse’s stock option grants, including representing that the options had been granted at exercise prices equal to fair market value on the grant dates and concealing that Comverse was required to but had not recorded compensation expenses relating to such grants. As a result, Comverse materially overstated its net income and earnings per share for more than a decade.

Without admitting or denying the allegations of the Commission’s Complaint, Alexander consented to the entry of a final judgment permanently enjoining him from violating Section 17(a) of the Securities Act of 1933, Sections 10(b), 13(b)(5), 14(a), and 16(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 10b-5, 13b2-1, 13b2-2, 14a-9, and 16a-3 thereunder, and from aiding and abetting violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder. The proposed final judgment, orders Alexander to pay $26,206,298 in disgorgement, plus prejudgment interest of $21,442,157, for a total of $47,648,455, and a $6 million civil penalty, and permanently prohibits him from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act or that is required to file reports pursuant to Section 15(d) of the Exchange Act. Under the terms of the proposed judgment, Alexander’s disgorgement and prejudgment interest will be deemed satisfied by the entry of a forfeiture order in a civil forfeiture action against Alexander’s assets in the United States District Court for the Eastern District of New York. Subject to the Court’s approval, the forfeited funds will be distributed to investors in accordance with the terms of the related class and derivative action settlements.

Separately, the United States Attorney’s Office for the Eastern District of New York today filed a stipulation of settlement of their civil forfeiture action against certain of Mr. Alexander’s assets (United Statesv. All Funds on Deposit at Citigroup Smith Barney Account No. 600-00338 Held in the Name of Kobi Alexander and Citigroup Smith Barney Account No. 600-27694 Held in the Name of Kobi J. Alexander, No. 06-CV-3730-NGG-RER (E.D.N.Y.)). This settlement is subject’s the court’s approval.

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PostPosted: Tue Jul 16, 2013 11:29 pm    Post subject: Reply with quote

Verint pop up again in relation to Snowden story and the NSA staff 'being privatised' or bribed to part with national security software

“[Unit 8200] developed Stuxnet and Flame along with its colleagues in the NSA. Unit 8200 veterans founded numerous start-ups that commercialized their military applications for security use by companies and intelligence agencies.”
One of these companies was Verint, which is conveniently owned by Comverse, an entity that, prior to 9-11, provided computers to the federal government which allowed them to install wiretapping equipment into practically every phone across the U.S. The ties go deeper. Former Comverse CEO Jacob “Kobi” Alexander also purchased the Odigo instant messaging service which alerted Jewish workers employed at the World Trade Center towers two hours before they were struck by airliners on September 11, 2001.
http://americanfreepress.net/?p=11302

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PostPosted: Thu Aug 25, 2016 8:33 pm    Post subject: Reply with quote

Ex-Comverse CEO pleads guilty to fraud, a decade after fleeing to Africa
http://www.reuters.com/article/us-comverse-fraud-idUSKCN10Z2K8

Fugitive U.S. millionaire Jacob 'Kobi' Alexander sits with his wife Hanna, as he awaits the start of his extradition hearing in Windhoek, September 17, 2008. REUTERS/Stringer /File Photo

By Nate Raymond | NEW YORK

The former chief executive officer of Comverse Technology Inc pleaded guilty to securities fraud on Wednesday and was ordered detained a decade after fleeing the United States for Namibia to avoid prosecution.

Jacob "Kobi" Alexander, the Woodbury, New York-based software developer's founder, entered the plea in federal court in Brooklyn, after ending his fight to avoid extradition.

Following his plea, the 64-year-old Israeli citizen's lawyers sought his release on a $25 million bond pending his Dec. 16 sentencing. But U.S. District Judge Nicholas Garaufis ordered Alexander detained, calling him a flight risk.

"His intelligence and his guile are a clear indication that he can't be trusted," Garaufis said.

Benjamin Brafman, Alexander's lawyer, said he was "bitterly disappointed." It was unclear if Alexander would appeal.

The case was one of the last open U.S. prosecutions arising from government or internal investigations of stock options backdating at over 200 companies, including Comverse, which was acquired in 2013 by former unit Verint Systems Inc (VRNT.O).

In backdating, a company retroactively grants stock options on dates when stock prices are lower, making them more valuable. Concealing the practice through improper accounting is illegal, and can inflate earnings.

In court, Alexander admitted he and other executives from 1998 to 2001 used "hindsight" to select the effective dates for granting options for employees, resulting in misleading statements to investors.

"I deeply regret having participated in this conduct," said Alexander, who faces up to 10 years in prison.

Alexander fled to Namibia with his family in July 2006 amid the investigation, prosecutors said. Charges were announced that August against himself, William Sorin, Comverse's general counsel, and David Kreinberg, its finance chief.

Extradition proceedings were still pending when Alexander reached a deal in May to return to the United States to plead guilty to the single count. He had faced 35 counts.
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In court, Brafman said Alexander returned "so he would have this nightmare behind him." Alexander's effective exile forced him to attended his parents' funerals by Skype, he said.

Sorin pleaded guilty and was sentenced to one year in prison. Kreinberg was spared prison after pleading guilty.

While abroad, Alexander agreed in 2009 to pay $60 million to Comverse in connection with shareholder litigation, and to waive over $72 million in claims he had against Comverse.

He settled related civil government lawsuits in 2010, resulting in a $6 million penalty by the U.S. Securities and Exchange Commission.

The case is U.S. v. Alexander, U.S. District Court, Eastern District of New York, No. 06-cr-00628.

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PostPosted: Fri Sep 02, 2016 12:35 am    Post subject: Reply with quote

Israeli Fugitive Tech Titan Kobi Alexander Jailed in New York
In surprise move, U.S. judge calls Alexander a flight risk after he returns to the U.S. to face securities charge following a decade as a fugitive from the law.

TheMarker and Reuters Aug 29, 2016 12:52 PM
http://www.haaretz.com/israel-news/business/1.739183

Jacob “Kobi” Alexander, the fugitive Israeli high-tech executive, has been jailed in the U.S. after a Brooklyn judge took him and his attorneys by surprise by ordering his detention after he agreed to return to the United States to face securities charges.
Alexander, who as CEO of Comverse Technology was one of the leading lights of Israeli high-tech a decade or more ago, pleaded guilty to securities fraud last Wednesday after he arrived in New York on bond following a decade as a fugitive from the law. 
But rather than being released as he and his attorney, Benjamin Brafman, had expected, U.S. District Judge Nicholas Garaufis ordered Alexander detained, calling him a flight risk.
"His intelligence and his guile are a clear indication that he can't be trusted," Garaufis said.
Benjamin Brafman, Alexander's lawyer, said he was "bitterly disappointed." It was unclear if Alexander would appeal.
Alexander, 64, had fled to Namibia in July 2006 as U.S. investigators were preparing an indictment against him and other at Comverse, which grew to a $1 billion-a-year company after inventing voicemail. Charges were announced that August against Alexander, William Sorin, Comverse's general counsel, and David Kreinberg, its finance chief.
 
The case was one of the last open U.S. prosecutions arising from government or internal investigations of stock options backdating at over 200 companies, including Comverse, which was acquired in 2013 by former unit Verint Systems.
Last week Alexander agreed to face charges and to post a $25 million bond pending his December 16 sentencing, which Garaufis rejected.
In backdating, a company retroactively grants stock options on dates when stock prices are lower, making them more valuable. Concealing the practice through improper accounting is illegal, and can inflate earnings.
In court, Alexander admitted he and other executives from 1998 to 2001 used "hindsight" to select the effective dates for granting options for employees, resulting in misleading statements to investors.
"I deeply regret having participated in this conduct," said Alexander, who faces up to 10 years in prison.
Extradition proceedings were still pending when Alexander reached a deal in May to return to the United States to plead guilty to the single count. He had faced 35 counts.
In court, Brafman said Alexander returned "so he would have this nightmare behind him." Alexander's effective exile forced him to attend his parents' funerals by Skype, he said.
Sorin pleaded guilty and was sentenced to one year in prison. Kreinberg was spared prison after pleading guilty.
While abroad, Alexander agreed in 2009 to pay $60 million to Comverse in connection with shareholder litigation and to waive over $72 million in claims he had against Comverse.
He settled related civil government lawsuits in 2010, resulting in a $6 million penalty by the U.S. Securities and Exchange Commission.
read more: http://www.haaretz.com/israel-news/business/1.739183

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