Ex-Comverse CEO Loses Fight To Protect Assets

Law360, New York (September 11, 2007, 12:00 AM EDT) -- The government has struck another blow in its protracted battle with former Comverse CEO Jacob “Kobi” Alexander, with a district court ruling that prosecutors may seize $50 million held in two of Alexander's bank accounts.

On Monday, Judge Nicholas Garaufis of the U.S. District Court for the Eastern District of New York granted the government's motion to freeze two Citigroup Smith Barney Accounts that allegedly held illegally procured funds.

After the government filed the suit in an attempt to confiscate the money, Alexander made a bid...
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