US Sentences Israeli National, 10 Years After Indictment for Stock Fraud

A U.S. federal court sentenced an Israeli national to 30 months in prison Thursday, 10 years after he was indicted for stock fraud.

Jacob "Kobi" Alexander was extradited from Namibia last year, where he had fled to avoid punishment.

"Kobi Alexander thought he could outwit the law, not once, but twice - first,by committing the crimes he's accused of, and a second time by leaving the country when he became aware his actions had caught up with him," the FBI's William Sweeney said Thursday.

Alexander pleaded guilty to charges of securities fraud for changing the dates on stock options of a communications software company between 1998 and 2006.

The scheme netted him about $30 million. Alexander was also accused of lying to investigators and attempting to bribe a witness. He fled to Namibia with his family to avoid being charged. Alexander eventually agreed to pay $60 million in forfeiture and civil settlements, according to the Department of Justice.

U.S. Attorney Robert Capers said Thursday's sentencing "should send a powerful message to high-ranking executives that corporate rank is no shield to criminal liability."

Source: Voice of America