Ex-Monster CEO to avoid prison time in options case
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The former chief of online job search  site Monster Worldwide Inc , suffering from a terminal  illness, will avoid prison as part of an agreement on Wednesday  with U.S. prosecutors probing stock options backdating.
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Former Brocade Communications Systems CEO Gregory Reyes has been sentenced to 21 months in prison and a $15 million fine for fraud related to backdating of the storage networking company&#39;s stock options.Reyes was convicted last August&#160;in the most prominent of many criminal and civil cases in the past two years related to backdating by high-tech companies. Apple, McAfee, Rambus, and scores of other vendors have faced either internal or external probes. Reyes&#39; conviction was the first by the U.S. Department of Justice in a backdating case. Reyes was found guilty on 10 charges including securities fraud, conspiracy and falsifying financial records. He could have faced as much as 20 years in prison.The sentencing order on Wednesday from Judge Charles Breyer of the U.S. District Court for the Northern District of California has been stayed pending an expected appeal, which has not yet been filed, according to the court.Backdating, which involves changing the date that stock options grants were made to certain employees so they can later get a bigger profit, is not illegal but has to be accounted for properly. Many high-tech companies used the practice during the Internet boom early in this decade to attract prized employees.In the wake of Brocade&#39;s backdating problems, the company restated its results from 1999 to 2004. The scandal also led to charges against Stephanie Jensen, former vice president of human resources, and Michael Byrd, the company&#39;s former CFO and COO.
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Faces fraud charges related to alleged backdating of stock options at the security specialist while it was known as Network Associates.
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CHICAGO -- Conrad Black's prosecutors won a ruling that makes it easier to convict the former chairman of Hollinger International Inc. and his codefendants of fraud.
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Prosecutors dropped a criminal   securities fraud charge against former New York Stock Exchange   specialist Kevin Fee, who had been slated to go on trial   October 3, court documents showed.
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The former boss of US firm Tyco, Dennis Kozlowski, is to appeal against his convictions for theft, fraud and conspiracy.
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The former top lawyer of McAfee Inc. was charged with stock options tampering that muddied the finances of the computer security software maker.
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Conrad Black may have to fight his felony conviction from behind bars if a U.S. judge decides on Thursday he could flee before she sentences the former press baron later this year.
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The U.S. Securities and Exchange Commission filed civil fraud charges against the former general counsel of Monster Worldwide Inc.  in a stock options backdating case, an agency official said on Thursday.
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BIRMINGHAM, Alabama  - A Birmingham judge refused on Thursday to send a former HealthSouth Corp.  chief financial officer to jail for his part in a massive accounting scandal, even after a U.S. Court of Appeals ordered a resentencing.
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Apple Inc  Chief Executive  Steve Jobs has been asked by U.S. securities regulators to give  a deposition in a stock options backdating lawsuit against the  company's former general counsel, Bloomberg reported on  Thursday, citing two people familiar with the matter.
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Business & money: Conrad Black could face decades in prison if convicted of masterminding theft of $60m (Â£30m) from his former Hollinger media empire.
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Monster Worldwide's former general counsel pleaded guilty in a Manhattan courtroom Thursday, another executive caught up in the stock options backdating scandal.
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The ex-general counsel at Monster Worldwide Inc.  pleaded guilty on Thursday to criminal charges related to stock options backdating, becoming the latest former U.S. executive ensnared in an options-related case.
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The former chief financial officer of defunct hedge fund Bayou Group was sentenced to 20 years in prison on Tuesday for his role in a scheme that defrauded investors of $450 million and led to the fund's collapse.
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SAN FRANCISCO -- McAfee's former top lawyer was charged Tuesday with stock options tampering that muddied the finances of the computer security software maker.
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A former senior vice president of the company that runs the Monster Worldwide Inc. job search Web site told a federal judge on Thursday that he wants to plead guilty.