Ex-McAfee Lawyer Charged with Securities Fraud
Kent Roberts, McAfee Inc.'s former top lawyer, was charged with securities fraud by the U.S. Securities and Exchange Commission. Roberts is believed to have changed stock option grant dates in order to benefit himself and others. Securities regulators say that Roberts changed the date of a February, 2000 stock option grant in order to boost the potential value of the options by $197,500. Roberts then concealed the faked repricing by filing stock ownership reports by filing fake stock ownership reports with the SEC and by not disclosing the repricing.
Roberts also changed the dates on 420,000 stock options that were given to McAfee's then-chief executive officer George Samenuk. Roberts' attorney says that Roberts will fight the charges which can carry a prison sentence of up to 20 years and a $5-million fine. The SEC said it plans to fine Roberts monetarily and also plans to seek restitution of his illegal gains. Roberts was fired from McAfee in May, 2006.
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