Fired McAfee Executive Is Charged With Options Fraud
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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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To settle a lawsuit over backdating, McAfee has restated its finances reports for 10 years and taken a $137.4 million charge.
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The former Chief Executive Officer of Computer Associates was indicted by a federal grand jury in New York Wednesday for allegedly participating in a massive fraud conspiracy and an elaborate cover up of a scheme that cost investors
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Former execs had been charged with fraudulent wire communications, identity theft and conspiracy.
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(InfoWorld) - McAfee's board of directors on Monday named former EMC executive Dave DeWalt as the security software company's chief executive officer and president. DeWalt, 42, takes the helm of a company tainted byÂ allegations surrounding backdating of stock optionsÂ by former executives. DeWalt, a 20-year veteran of the technology industry, most recently was executive vice president and president of customer operations for EMC. David Fuller, McAfee's interim president and CEO, will leave that job April 1, the day before DeWalt takes over. Fuller will stay as an advisor to help with the transition and will remain on the board. DeWalt is also expected to be appointed to the board. Fuller stepped in as interim chief in October 2006 following the resignation of George Samenuk as chairman and CEO and Kevin Weiss as president. They left following allegations that they were involved in improperly backdating stock options to McAfee executives. DeWalt told IDG News that he is prepared to take over the company, even as it operates under a legal cloud. "It definitely is an issue for me to deal with," he said. "I don't condone what happened but it is behind us." A federal indictment alleges improper backdating of stock option grants by McAfee executives in 2000 and 2002. Last week, former McAfee legal counsel Kent Roberts was arraigned on federal fraud charges in relation to his role in the backdating scandal. He pleaded not guilty before a federal judge in San Francisco.
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The former legal counsel for McAfee is facing federal charges of improperly backdating stock options at the security software company.
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CENTRAL ISLIP, N.Y. - The former CEO of the nation's leading supplier of body armor to the US military was indicted yesterday on charges of insider trading, fraud, and tax evasion in a scheme that netted him more than $185 million, prosecutors said.
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Federal prosecutors yesterday alleged that a vice president at Staples Inc. stole more than $580,000 over two years and used a company credit card for shopping and adult entertainment before the company discovered the scheme and fired him in November.
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The 33-count indictment includes charges of fraud related to the sale of city-owned property before he left office, according to The Associated Press.
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The former chief executive of Brocade Communications Systems Inc. was ordered on Wednesday to pay a $15 million fine for orchestrating an illegal stock options tampering scheme.
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The former chairman of US software firm Computer Associates is charged with securities fraud in connection with a $2.2bn accounting scandal.
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InfoWorld - McAfee&#39;s board of directors on Monday named former EMC executive Dave DeWalt as the security software company&#39;s CEO and president.
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Two former executives at America Online face multiple charges of fraud stemming from transactions with a small software provider.
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Contractor charged with defrauding the company of $10 million. Also: Mass. man allegedly uses false identities to order parts.
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A computer administrator upset over the possibility of losing his job planted an electronic "bomb" in the systems of one of the nation's largest prescription drug management companies, prosecutors said Tuesday.
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By JIM FITZGERALD WHITE PLAINS, N.Y. - A man who was fired by International Business Machines Corp. for visiting an adult chat room during the workday is suing the company for $5 million, claiming he is an Internet addict who deserves treatment and sympathy rather than dismissal.
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The feds turn up the heat on a corporate executive who went on the lam after being charged with paying hackers to take down the competition.