Fugitive tech CEO expected to plead guilty in fraud case

Features Associated Press

A fugitive technology company CEO has agreed to return from a 10-year exile in Africa to face U.S. fraud charges in New York.

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Prosecutors say Jacob "Kobi" Alexander is expected to plead guilty on Wednesday in federal court in Brooklyn as part of a plea deal.

Alexander disappeared in 2006 while under investigation in a scheme to pocket millions of dollars by secretly manipulating stock options for his company, voicemail software maker Comverse Technology Inc.

He was accused of transferring $57 million to Israel before he disappeared, fueling speculation he may have fled there. He later turned up in the Republic of Namibia, where he lived comfortably with his family while fighting extradition.