Posted on 03/06/2009 5:11:00 AM PST by ninonitti
A federal grand jury indictment alleges that Karatz, who resigned under fire in 2006, orchestrated the backdating of options to his own benefit. Bruce Karatz, who rode the housing boom to become one of the highest-paid executives in the country, was indicted by a federal grand jury Thursday on charges of manipulating stock options -- becoming one of the few executives to face criminal charges in the nation's options backdating scandal. Karatz, 63, served as chairman and chief executive of Westwood-based KB Home from 1986 to 2006, when he resigned under fire. Over a three-year period ending in 2005, Karatz garnered more than $232 million in compensation. "This investigation painted a picture of avarice and dishonesty at its core," said Salvador Hernandez, who heads the FBI office in Los Angeles.
(Excerpt) Read more at latimes.com ...
Pronounced Ka Rats? The latest businessman to get swept up in the current unpleasantness. His Karatz Family Foundation donated money to the William (Wild Willy) Clinton Foundation.
Good luck with the victim act.
He liked democrats: http://www.newsmeat.com/fec/bystate_detail.php?st=CA&last=KARATZ&first=BRUCE
Jeeeeez Obama in ‘04? He was the chosen one back then?
Probably thought he was untouchable. Oopsie!
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