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London Underground CCTV firm replaces fugitive CEO

Tony Gosling & James Bernstein | 08.10.2007 22:50 | Anti-militarism | Technology | Terror War | London

Ten months before the 7/7 London bombs Verint Systems signed a 30 year contract with privatised London tube company Metronet Rail. Metronet is now in liquidation so many are asking is that contract still valid? They are also asking because Verint's last chief executive, ex Israeli army officer Kobi Alexander, is a fugitive in Namibia who has run off with $13m and is wanted in New York under 35 counts of fraud. Verint was also Delisted from the NASDAQ in February this year for failing to file accounts to the Securities and Exchange Commission.

Verint's fugitive CEO Jacob 'Kobi' Alexander
Verint's fugitive CEO Jacob 'Kobi' Alexander

Verint names new chairman to replace fugitive Kobi Alexander

By James Bernstein
September 12, 2007

Verint Systems Inc. of Melville, a unit of Manhattan-based Comverse Technology Inc., said Wednesday it has named one of its independent directors as non-executive chairman.

Verint said its board has chosen Victor D. DeMarines as its new chairman who is not a company executive. DeMarines has been a Verint independent director and chairman of the board's audit committee since 2002. Verint said DeMarines will also serve as chairman of the company's newly created governance and nominating committee.

The post has been vacant since the previous chairman Jacob Alexander fled the United States more than a year ago to avoid charges in a securities-fraud case. Alexander, known as Kobi, was eventually arrested in Namibia and has been fighting extradition.

Alexander also had been chief executive of Comverse, which has a facility in Woodbury. He stepped down from his posts at Comverse and Verint in the spring of 2006. Mark C. Terrell is now Comverse chairman and Andre Dahan is chief executive.

Dan Bodner serves as Verint's chief executive.

Both Verint and Comverse design voicemail software.

Verint said in July that federal securities regulators are investigating some stock-option practices at Witness, a business unit Verint acquired in May. Verint said the practices occurred before the acquisition.

Analysts have speculated that Comverse may be sold, or that it may spin off Verint.

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Tony Gosling & James Bernstein
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