SafeNet CFO Indicted For Fraud, Conspiracy

Law360, New York (July 26, 2007, 12:00 AM EDT) -- A former executive of SafeNet Inc. was arraigned Thursday on charges stemming from an options backdating scandal that rocked the software company last year.

Ex-chief financial officer Carole Argo, who tendered her resignation last October, is the first executive of the Maryland-based company to be charged over the scheme to backdate millions of dollars worth of stock options grants.

The criminal indictment, which charges her with securities fraud and conspiracy, was filed jointly to Manhattan's federal court Wednesday by U.S. Attorney for the Southern District of...
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