It almost feels like the Namibian authorities are on the side of Kobi Alexander, the former Comverse Technologies leader who fled American justice after being implicated in securities crime. Since summer, Alexander and his family have been in Windhoek, the capital city, from where he is fighting extradition to the U.S.

According to the newspaper The Namibian, the Windhoek court agreed to reactivate his two local bank accounts, which were frozen at the beginning of October. That frees up about $17 million in cash. U.S. Alexander petitioned the court this week with an urgent request.

Judge Elton Hoff of the Namibian High Court ruled yesterday that Standard Bank and Bank Windhoek must allow the Israeli to use his money as he pleases.

	Advertisement

Alexander founded and ran Comverse, growing it into a highly successful technology firm. He had been among the most respected personalities in Israeli tech circles, which were astounded to learn of the extent of alleged malfeasance at Comverse regarding stock options and other accounting affairs.

At present Alexander faces 35 charges in the U.S., including securities fraud and money-laundering.

Since his arrival in Namibia, Alexander has transferred about 120 million Namibian dollars, or $17 million, from his Israeli accounts to the two Namibian banks, according to what Alexander reported to the court as part of his request for bail in October. The Namibian court agreed to release him on $1.3 million bail, a record for the local court.

Alexander requested the release of the money since he was required to deposit another $700,000 to ease the terms of his bail. This will allow him to travel outside of Windhoek, which he claims is necessary in order to supervise his business projects around the country.

He also told the court that he needs the money to pay for legal expenses, as well as provide appropriate living conditions for him and his family.

Alexander has made himself a life in Namibia and has demonstrated to the Namibian authorities that he means to invest his wealth and skills in the country. His two children have been enrolled in the international school in the city and he's already invested some $1.5 million in properties. He also bought a half-million dollar house, in which he lives as a basically free man. At least for now.

The first session on the extradition request will be at the end of April, and the forecast in Namibia is for a very long, drawn-out process.