Former security execs tangle with NY attorneys
By SSN Staff
Updated Thu October 5, 2006
NEW YORK-- According to the U.S. Attorney's Office in Brooklyn, Kobi Alexander, the founder and former CEO of Comverse Technology, which was once the parent company of analytics firm Verint, was arrested in Namibia on September 27. Also in New York, L. Dennis Kozlowski, former chief executive officer of Tyco International, and Mark Swartz, former finance chief of Tyco, filed an appeal with the New York Supreme Court Appellate Division on Tuesday stating they were wrongfully convicted in 2005 of stealing hundreds of millions of dollars from Tyco.
Alexander has been a fugitive since August 9 of this year. An international manhunt was conducted when Alexander, accused of stock-option manipulation and wire fraud by the U.S. District Court of Brooklyn, went on the run. He was captured by authorities in Namibia on September 27.
Comverse, a maker of software for voicemail, is headquartered in Manhattan. Alexander resigned from the company in April amid a federal investigation of stock-option manipulation.
The appeals papers of the former Tyco executives say that they were convicted due to the sensationalized corporate scandals preceding their conviction, namely those at Enron and ImClone.
At one time, Koslowski and Swartz were two of the highest paid executives in the country. With annual revenues of $36 billion, Tyco International makes products ranging from security and fire electronics to medical supplies.
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