Former tech CEO faces sentencing after self-exile in Africa

Former tech CEO faces sentencing after self-exile in Africa | iNFOnews.ca
FILE - In this Nov. 1 2005 file photo Jacob "Kobi" Alexander, former Chairman and Chief Executive Officer of Comverse Technology Inc., attends a fundraising dinner in New York. Alexander, who dodged securities fraud charges by spending a decade in Africa with a $50 million nest egg, was sentenced Thursday, Feb. 23, 3017, to 30 months in prison by a judge in New York City who blasted him as "foolish" for hatching his scheme and fleeing justice for so long. (AP Photo/David Karp, File) A

NEW YORK – A wealthy former CEO who dodged securities fraud charges for a decade by fleeing to Africa is facing sentencing in New York City.

Jacob “Kobi” Alexander is due in federal court in Brooklyn on Thursday.

Alexander came under investigation as the successful head of a telecommunications software firm called Comverse. He was in Israel and negotiating a possible surrender when he vanished in 2006.

He turned up in Namibia after having transferred tens of millions of dollars overseas. He lived comfortably there until last year, when he gave up an extradition fight and agreed to plead guilty in the U.S.

The defence says the 64-year-old Alexander shouldn’t get more than two years behind bars. Prosecutors want a stiffer punishment.

Last year, a judge rejected his $25 million bid for bail.

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