The Top SEC Settlements of 2011

By Joel Stonington - 2012-01-03T23:18:44Z

Photograph by Naashon Zalk/Bloomberg

Company Symbol % Change
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No. 5: Jacob ("Kobi") Alexander

<p><strong>Total Settlement:</strong> $53.6 million<br /><strong>Disgorgement:</strong> $47.6 million<br /><strong>Penalty:</strong> $6 million

Alexander, former head of Comverse Technology, was charged with illegal stock-option backdating in 2006. He fled to Namibia, where he was arrested and released on bond. He remains a fugitive in the criminal case but this year agreed to <a href="http://www.sec.gov/litigation/litreleases/2010/lr21753.htm">settle civil charges with the SEC</a> and give up bank accounts worth $46 million to federal authorities. Alexander agreed to turn over the money if it went to Comverse to settle shareholder lawsuits, <a href="http://www.bloomberg.com/news/2010-11-23/comverse-ex-chief-alexander-agrees-to-forfeit-46-million.html">according to Bloomberg</a>.

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