KB Home’s Bruce Karatz Guilty in Backdating Trial
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Former KB Home Chief Executive Officer Bruce Karatz was found guilty by a U.S. jury of hiding from auditors and regulators that he backdated stock options.
Jurors in federal court in Los Angeles today found Karatz guilty of two counts of mail fraud and two counts of making a false statement. He was acquitted of 16 charges, including mail and wire fraud, securities fraud and filing false proxy statements.