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Appearing before a Federal Court in New York City, Mr Kreinberg acknowledged that his actions were "wrong"."The company was in fact issuing backdated options with an exercise price lower than the fair market value on the grant date," he said.Although backdating had not yet been recognized as a problem, the provisions of Sarbanes-Oxley requiring that insiders report the acquisition of securities, including options, within two days of receipt greatly hindered the ability of corporations to backdate options.
Options were also backdated for new employees to dates prior to the date employment actually commenced.
He was detained in Namibia in August after allegedly fleeing the US earlier in the year.
Media reports have suggested that Mr Alexander intends to plead not guilty to the charges.
Prosecutors claim the three men hid this practice - known as 'backdating' - from other board members and Comverse's accountants.
They are also alleged to have falsified financial statements and ultimately pocketed more than m, with Mr Alexander taking .4m.
A former executive with US software firm Comverse Technology has pleaded guilty to fraud and conspiracy in the award of lucrative stock options.
She later wrote in her autobiography that the owner of a jewellery shop in Clapham gave her a job on Saturdays, but Jim Guy, the owner of Penrose Jewellers, later stated: "Everything she wrote about me was lies, I never gave her a job; she just hung around and made tea. The only thing that was true was she nicked stuff from the shop", which Guy said was worth £20,000.
Wiki websites like Wikipedia and IMDb also include information on her interesting biography.
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