Ex-KB Home CEO Indicted In Backdating Case

Law360, New York (March 6, 2009, 12:00 AM EST) -- Former KB Home Inc. CEO Bruce Karatz has been indicted over an alleged scheme to defraud company stockholders and investors of millions of dollars by backdating stock options for himself and other senior executives and deceiving the U.S. Securities and Exchange Commission, KB Home accountants and KB stockholders.

Following an extensive FBI investigation, Karatz, 63, was indicted on Tuesday on 15 counts of mail, wire and securities fraud, four counts of making false and misleading statements in the company's SEC filings and one count of lying...
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