Court delays Kobi Alexander extradition case as Windhoek plastered with posters A Namibian court on Friday postponed until June 25, 2007 an extradition case involving fugitive U.S. millionaire Jacob "Kobi" Alexander, 54, who is wanted in the United States on charges of manipulating stock options.
Ahead of the hearing, Alexander's people had plastered Windhoek, the capital city, with ads praising the ex-http://www.comverse.com Comverse Technologies (Nasdaq: CMVT) http://www.themarker.com/eng/tools/toolsResult.jhtml?application=8&chosen=10003248 leader's past and contributions to Namibia, whence he had fled in June of last year via Israel, with the FBI hot on his heels.
The Namibian magistrate's court approved a defense request for the delay after Alexander's lawyers argued that they had not been informed in advance of the appointment of a new magistrate in the case, Petrus Unengu.
"The minister must respond in writing to our letter whether the act was complied with regarding the appointment of the magistrate," defense lawyer Louis du Pisani told the court.
U.S. prosecutors are seeking the extradition of Alexander, former chief executive and founder of the Israeli voice-recording technology maker Comverse, on more than 30 counts of fraud and manipulating stock options. Among other things, the Comverse people are suspected of backdating, running a slush fund to grant options to whomever they liked off the books, allocating stock options to imaginary people, and lying to institutional investors.
Alexander has been fighting extradition to the United States since shortly after his arrest in Namibia in September 2006. His case has since been delayed several times.
Critics say he has tried to buy support in Namibia and avoid extradition by funding aid projects and making future pledges.
An extradition hearing was scheduled to start in Windhoek on April 25 but it did not proceed after his legal team raised objections to the magistrate.
Alexander's lawyers have said in letters to the Namibian minister of justice that the Namibian Extradition Act required a specific magistrate had to be appointed to deal with the case.
The Israeli-born Alexander remains free on bail of N$10 million ($1.4 million) - believed to be one of the highest ever in the Southern African country. He had been in custody for all of six days.
In August, Alexander was charged in U.S. federal court in New York with 32 criminal counts ranging from alleged conspiracy to securities fraud and money laundering and could face up to 25 years in prison if convicted.
Since his arrest, Alexander has expressed a desire to stay in Namibia and pledged to invest a total of 100 million Namibian dollars ($14 million) in the nation during the next five years through his Kobi Alexander Enterprises venture.
The Namibian government has described Alexander as "very passionate" about the country and its people, and Alexander and his wife in April announced they were launching a $21,345 annual scholarship fund for top-performing students both at primary and secondary schools.
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