A Namibian court has deferred a hearing, scheduled for today, on the extradition of former Comverse Technology Inc. (Pink Sheets: CMVT.PK) chairman and CEO Kobi Alexander until June 8. The prosecution asked for the deferral.
The hearing will last for several days, after which the court will decide whether to agree to the US extradition request or allow Alexander to continue to reside in the country as a temporary resident. Alexander fled to Namibia in July 2006.
Alexander’s attorney did not object to the request for a deferral. The request was made against the backdrop of a media campaign launched by Alexander a few days ago, using newspaper ads and billboards in Namibia’s capital, Windhoek. He has hired a media advisor from international advertising agency TBWA. The Americans were apparently concerned by the public mood that Alexander has created in his favor.
The US authorities have charged Alexander with over 30 criminal counts, beginning with the backdating of stock option grants for himself and Comverse employees in order to maximize their profits when the options were exercised at the expense of the public shareholders in the company. The indictment says that he gained $6 million by this method.
Published by Globes [online], Israel business news - www.globes.co.il - on April 25, 2007
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