Extradition hearing for fugitive U.S technology executive set for Wednesday in Namibia
Fugitive businessman Jacob "Kobi" Alexander has taken out full-page ads and erected billboards touting his commitment to Namibia, where a judge planned a hearing Wednesday on whether to send him to the United States to face trial on stock-options fraud charges.
Alexander, the former chief executive of voicemail software maker Comverse Technology Inc., was arrested Sept. 26 in the Namibian capital, Windhoek, at the request of the FBI after a two-month manhunt.
Alexander, 54, an Israeli citizen who had been living in the southern African desert country since July, was granted bail of $1.3 million.
In an affidavit at the time of his arrest, Alexander said he had entered the country lawfully with his wife and three children and that he had plans for businesses and investments in Namibia.
Since then, he has not been shy about promoting his Namibian company, Kobi Alexander Enterprises.
He placed full-page advertisements in four local dailies hailing his investment in the construction of 200 low-cost housing units in the coastal town of Walvis Bay.
"Mr. Kobi Alexander, its founder, brings with him a wealth of business acumen," the advertisement said, citing his work as founder of Comverse Technology.
A billboard erected in front of a government office park in Windhoek recently reads: "Namibija Saying yes to investment" _ a play on the German phrase "Namibia, ja," or "Namibia, yes." Namibia is a former German colony.
Alexander is accused in the U.S. of hatching a scheme to pocket millions of US dollars by secretly manipulating stock options.
Comverse's former general counsel and former head of finance both have pleaded guilty in the case, and both said in U.S. federal court that they conspired with Alexander to backdate options to low points in the stock price and falsify financial statements to conceal the fraud from shareholders.
Comverse executives were among the first to be brought to trial in the wide-reaching U.S. government investigation into stock options backdating.
Original article posted here.
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