US Won't Seek Prison For KB Homes Backdater

Law360, New York (December 7, 2010, 4:04 PM EST) -- Prosecutors have asked that former KB Home Inc. human resources chief Gary A. Ray receive no jail time for his role in a stock options backdating scheme that put half a million dollars in his pocket and netted his boss, former CEO Bruce Karatz, at least several million dollars more.

Prosecutors cited Ray’s full cooperation with the Karatz investigation and his early guilty plea in their motion for a downward departure in the government sentencing report filed Monday in the U.S. District Court for the Central...
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