IDT Exec Conned Co. Out Of 200 Spectrum Licenses: Suit

Law360, New York (February 1, 2013, 8:53 PM EST) -- IDT Corp. on Friday slapped a former manager for a subsidiary with a lawsuit in New Jersey federal court claiming that he breached fiduciary and contractual duties by diverting about 200 spectrum licenses that were allegedly intended for the telecommunications company to his own business.

Michael Rapaport — who has already sued his former employer — allegedly abused his position as IDT Spectrum Inc.'s president as part of a deal involving portfolios of Federal Communication Commission licenses from Level 3 Communications Inc. and PTPMS Communications LLC that cover segments of the wireless spectrum, according to the complaint.

Rapaport "fraudulently" convinced IDT...

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