I’m fascinated by the case of the former head of tech firm Comverse, who’s on the lam in Namibia, an African country next door to South Africa:
The former chief executive of Comverse Technology, Jacob Alexander, was granted bail of $1.3 million on Tuesday after a local magistrate ruled that the Namibian government had failed to prove that he was a flight risk…
… Mr. Alexander, an Israeli citizen with United States residency, is wanted in the United States on charges related to a suspected scheme to backdate options at Comverse…
Mr. Alexander turned Comverse from a penny stock to a communications software company with $1 billion in annual sales. He resigned as chief executive and chairman this spring after an internal investigation into dates of stock options that had been granted to him and other executives and employees.
About two months ago, Mr. Alexander and his family arrived in Namibia, bought a house and enrolled their children in schools, the court was told during the hearings on Monday.
He also transferred about $16 million into a local bank account, entered into various local business ventures in low-cost housing and was granted a two-year work permit for this purpose, according to an affidavit filed by Mr. Alexander in support of his bail application.
It’ll be interesting to see if he can beat the system.
Whenever I fought the law, the law won.