Philanthropist Accused in Stock Scam ; Teaneck Man Allegedly Manipulated Options
The Record, Bergen County, NJ › August 10, 2006
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Summary
A Teaneck man and two other former executives of a software company were charged Wednesday with orchestrating a scheme to cheat the company of millions of dollars by manipulating stock options.
David Kreinberg, who resigned as chief financial officer of Comverse Technology Inc. in May amid an internal probe into accounting irregularities, made nearly $1 million through the scheme, according to a criminal complaint unsealed Wednesday. And Kreinberg, who is known in Teaneck for his philanthropy to Jewish causes, allegedly helped his boss, CEO Jacob "Kobi" Alexander, cheat the company out of $6.4 million.See the full content of this document
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Philanthropist Accused in Stock Scam ; Teaneck Man Allegedly Manipulated Options
Authorities believe Alexander, 54, has fled the country, and a warrant was issued for his arrest. In a related action, the government seized $45 million from two investment accounts held in the United States in Alexander's name. Authorities alleg...
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