Comverse Technology (Nasdaq: CMVT) founder Kobi Alexander has been traced to a house in the town of Negombo in Sri Lanka by a private investigator, Hebrew daily "Ma'ariv" reports this morning. The investigator was hired by a US venture capital firm.
According to "Ma'ariv", Alexander was traced through a one-minute conversation with his daughter in Israel via Internet telephony program Skype. Alexander's daughter had been under surveillance.
Former Comverse Technology chairman and CEO Alexander is on the FBI's wanted list, and the US public has been asked to help find Alexander, who is alleged to have committed criminal offences. Alexander and two other former senior Comverse Technology executives, David Kreinberg, who was VP finance at the company, and William Sorin, who was corporate secretary and director, stand accused of enriching themselves through the backdating of stock option allocations.
At the end of last week, Comverse Technology announced that the special committee of its board of directors had decided to cancel all agreements with the three former executives, and indicated that it might sue them over the options backdating.
Published by Globes [online], Israel business news - www.globes.co.il - on August 24, 2006
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