Fugitive tech CEO expected to plead guilty in fraud case

AP News
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Posted: Aug 23, 2016 6:34 PM

NEW YORK (AP) — A fugitive technology company CEO has agreed to return from a 10-year exile in Africa to face U.S. fraud charges in New York and is expected to plead guilty.

Prosecutors say Jacob "Kobi" Alexander is expected to plead guilty Wednesday in federal court as part of a plea deal.

Alexander disappeared in 2006 while under investigation in a scheme to pocket millions of dollars by secretly manipulating stock options for voicemail software maker Comverse Technology Inc.

He was accused of transferring $57 million to Israel before he disappeared, fueling speculation he may have fled there. He turned up in the Republic of Namibia, where he lived comfortably with his family while fighting extradition.

A defense attorney says Alexander will plead guilty to one charge "relating solely to backdating" and is hoping for a lenient sentence.