Jacob “Kobi’ Alexander, a fugitive technology executive who spent a decade in Africa rather than face criminal charges in a stock-options backdating scandal, pleaded guilty Wednesday to securities fraud in Brooklyn, N. After a contentious hearing largely focused on whether Mr. The former Comverse Technology chief executive officer who authorities say fled to Africa a decade ago to avoid prosecution in a stock options scandal will return to the United States and plead guilty to a criminal charge, his lawyer said on Monday.
from Namibia after 10 years on the lam and pled guilty to backdating the software company's stock options, deeming him a flight risk.
CNBC tracked him there in 2007, and found him living in a gated community on the grounds of the Windhoek Country Club.
His luxury townhouse was adjacent to a private airstrip, even though a Namibian judge had restricted his travel and Alexander theoretically faced certain arrest if he left the country.
By then, Alexander had pledged millions of dollars — lavish by Namibian standards — in aid to Namibian schoolchildren and new housing for the nation's impoverished townships. accused Alexander of using Comverse shareholder money to buy off the Namibian government, which his Namibian attorney flatly denied.
Alexander and his wife also set up a pair of soup kitchens in the country, credited by local media with feeding hundreds of children every day. "He is entitled to be here, he is entitled to participate in the economy, and I think anybody who has that sort of idea, it is a machination of their own means and making," Richard Metcalfe told CNBC in 2007.