Namibia, South Africa - Fugitive Ex-CEO of Comverse Technology Granted Bail

Namibia, South Africa - The fugitive former CEO of software company Comverse Technology Inc. in Long Island, NY was granted bail by a Namibian court Tuesday while he awaits extradition to the United States to face charges for allegedly manipulating stock options.

Jacob "Kobi" Alexander was granted bail of about $1.3 million, his lawyer Richard Metcalfe said, on condition that he hands in his passport, is not allowed to leave the district of Namibia's capital Windhoek and has to report twice a week to an Interpol inspector. "We are extremely pleased," Metcalfe said.
Alexander was arrested Sept. 26 in Windhoek at the request of the FBI after a two-month manhunt.
The Namibian government opposed bail at the request of the United States, arguing he could flee the country before a U.S. extradition request reached Namibian authorities.

However, Metcalfe said: "Magistrate Uatjo Uanivi found that the evidence presented for denying him bail were not convincing at all. "There was no reason to believe he would not be willing to stay in Namibia pending extradition."