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Criminal

Oct. 19, 2010

Judge Tosses Fraud Count for Karatz

A federal judge on Friday dismissed one count of criminal mail fraud entered by a jury against former KB Home CEO Bruce Karatz for the cover up of a stock option backdating scheme.

By Gabe Friedman

Daily Journal Staff Writer

LOS ANGELES - A federal judge on Friday dismissed one count of criminal mail fraud entered by a jury against former KB Home CEO Bruce Karatz for the cover up of a stock option backdating scheme.

U.S. District Judge Otis Wright II ruled federal prosecutors improperly charged Karatz with mail fraud for lying in a report about the KB Home stock option program that was submitted to audito...

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