Feds Say 2.5 Years Is Enough For KB Home Backdater

Law360, New York (November 22, 2010, 8:05 PM EST) -- Prosecutors have given a nod of approval to a U.S. probation office report that recommends a base sentence of about 2 1/2 years in jail for the former KB Home Inc. human resources chief who pled guilty to stock options backdating in 2008.

Prosecutors intend to suggest a downward departure in that sentence, though, based on Gary Ray’s cooperation with authorities as they built their case against former KB Home CEO Bruce Karatz and others, according to a government sentencing memorandum filed Thursday in the U.S....
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