Ex-KB Homes CEO Avoids Jail For Backdating

Law360, New York (November 11, 2010, 11:36 AM EST) -- A federal judge has sentenced former KB Homes Inc. CEO and convicted stock options backdater Bruce Karatz to just eight months of confinement in his Los Angeles mansion and a $1 million fine, ignoring prosecutors’ calls for a much heftier fine and six years behind bars.

The sentence handed down Wednesday by Judge Otis D. Wright of the U.S. District Court for the Central District of California also includes five years of probation and 2,000 hours of community service, a U.S. Department of Justice spokesman said....
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