Prosecutors Want 14 Years For Ex-KB Home CEO

Law360, New York (October 15, 2010, 3:22 PM EDT) -- Federal prosecutors have demanded that KB Home Inc. ex-CEO Bruce E. Karatz serve at least 14 years in prison for covering up a stock options backdating scheme, saying the public needs to know that corporate convicts will not just get a “slap on the wrist.”

The prosecutors' recommendations, made in a brief filed Thursday in the U.S. District Court for the District of California, are significantly higher than those made by the U.S. Probation Office, which said Karatz should serve five years' probation and eight months...
To view the full article, register now.