These crimes are characterized by deceit, concealment, or violation of trust, and are not dependent upon the application or threat of physical force or violence.
Such acts are committed by individuals and organizations to obtain personal or business advantage.
Comverse, which is now defunct, faced its own problems while Alexander was away in Namibia.
In 2010, the company lost a class-action lawsuit and was forced to pay 5 million for the backdating scandal.
The US does not have an extradition treaty with Namibia.
While leading Comverse, a voicemail-software maker, Alexander mastermided a 15-year scheme to backdate stock options to put them in the money, the government alleged in its 35-count indictment.
Each section of this report provides an overview, statistical accomplishments, and case examples of the identified priority crime problems specifically addressed by the Financial Crimes Section.
Where appropriate, suggestions are made in order to protect the public from being victimized by fraudulent activity.
The 64-year-old former chief executive of New York-based Comverse Technology had been living a life of luxury in Namibia, in southwest Africa — in a ritzy neighborhood near a private airstrip.The FBI focuses its financial crimes investigations on such criminal activities as corporate fraud, health care fraud, mortgage fraud, identity theft, insurance fraud, mass marketing fraud, and money laundering.These are the identified priority crime problem areas of the Financial Crimes Section (FCS) of the FBI.The mission of the FCS is to oversee the investigation of financial fraud and to facilitate the forfeiture of assets from those engaging in federal crimes.The FCS is divided into four units: the Economic Crimes Unit, Health Care Fraud Unit, Financial Institution Fraud Unit, and the Asset Forfeiture/Money Laundering Unit.