Securities
Apr. 22, 2010
Ex-KB Home CEO Convicted on Fraud Charges
A federal grand jury in Los Angeles convicted former KB Home CEO Bruce Karatz on four of twenty counts including mail fraud and making false statements to accountants and shareholders for backdating stock options to boost his pay.
The verdict included two counts of wire fraud, one count of making false statements in a quarterly report to shareholders and one count of making false statements to accountants.
Karatz' attorney John Keker of Keker & Van Nest indicated he would fi...
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