They benefited personally from this and also used such options to reward employees.
They are also accused of running a secret slush fund of options allocated to fictitious employees, which could later be transferred to real ones.
On his retirement from the Department of the Interior he was praised by Secretary of the Interior Ken Salazar and by the editorial board of The Denver Post for his role in America’s Great Outdoors Program which is modeled after the popular and successful Great Outdoors Colorado program.
America’s Great Outdoors, which led to the passage of the Omnibus Public Land Management Act of 2009, was heralded as one of the most important conservation measures in decades.
[...] Mr Alexander and his former colleagues are accused of backdating share options to value them at low points in Comverse's share price.
(If that sounds odd, Cablevision, another firm caught up in the scandal, reportedly gave options retrospectively to an executive after his death.) These options were not counted as a cost when calculating profits, as they should have been—hence the fraud allegations.
Mr Alexander and his former colleagues are accused of backdating share options to value them at low points in Comverse´s share-price.The backdating scheme involved moving an effective date for the exercise of stock options from when the options were 'out of the money' to a date that made the options 'in the money' in order to allow certain executives to exercise their options profitably.Companies such as Comverse, Verisign, F5 Networks, Intuit and Mc Afee - as well as Home Depot, Michael's Stores and United Health Group, to name a few - all engaged in this fraudulent activity to varying degrees and were forced to pay fines and penalties and conduct time-consuming and expensive restatements of their books.For example Mr Kobi Alexander, the founder and former boss of Comverse Technology, a well-known US software firm was in the corporate headline in the summer of 2006.Mr Alexander is the highest-profile executive to be charged so far in the scandal surrounding the backdating of executive share options at over 100 American firms.This may sound odd, but another company, Cablevision involved in backdating their SOPs, reportedly gave options retrospectively to an executive after his death.These options were not counted as a cost when calculating profits, as they should have been – hence the fraud allegations.[FN 59] [FN 59: The Economist, 7th October 2006, p.The girlfriends of hard-core criminals are not exactly spectacular witnesses either." In addition, Strickland went after human traffickers as demonstrated by his commitment to prosecuting three people in charges of transporting illegal immigrants after a van crash in northeast Colorado that killed six men. On April 24, 2007, he was appointed executive vice president and chief legal officer of United Health Group, a diversified health and well-being company headquartered in Minneapolis, Minnesota and serving more than 70 million individuals nationwide.The victims were packed into a van with 14 other passengers who also sustained injuries when a tractor trailer ran into the back of the van. At United Health, he managed an in-house team of 200 attorneys and a nationwide team of outside counsel.In 2000, he prosecuted of the largest drug bust in Longmont's history, an investigation that grew to include California and Nebraska and involved the Internal Revenue Service, the U. Attorney's office, the Federal Housing Authority and the Bureau of Alcohol, Tobacco, Firearms and Explosives.Strickland also levied 37 felony counts of selling large quantities of guns to criminals against Gregory Golyansky, his brother Leonid and their employee and cousin, Dmitry Baravik, in a politically charged trial that ended in a plea bargain with a sentence of just one day of probation and a lifetime ban on selling firearms.