Ex-Comverse Exec Gets One Year In Jail

Law360, New York (May 10, 2007, 12:00 AM EDT) -- The former general counsel of Comverse Technologies Inc. on Thursday was ordered to serve one year and a day in jail, after pleading guilty to taking part in a stock options backdating scheme.

William F. Sorin, the ex-general counsel of the fallen company, was charged with securities fraud, mail fraud and wire fraud. Judge Nicholas Garaufis from the U.S. District Court for the Eastern District of New York also ordered him to serve three years of supervised release after his jail term.

The U.S. Securities and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.