Namibian prosecutor files appeal against Alexander's release on bail
The Namibian state prosecution has appealed the release of Comverse founder Kobi Alexander to the nation's highest court, asking that he be held without bail. Prosecutor General Olivia Imalwa said in the High Court appeal that the lower court judge who had ordered Alexander released on bail of $1.3 million had erred and had failed to consider certain facts.
The appeal constitutes a declaration of intent and indicates that Namibia is determined to comply with a U.S. government request for extradition.
Imalwa wrote in the appeal that it is a very real concern that Alexander could flee the country, even though a Windhoek magistrate rejected the idea. She expressed concern that Alexander would find a means to escape Namibia despite depositing his passport with the police until the end of the proceedings against him.
Even though no date for the appeal hearing has been set, Namibian legal experts expect it to take place soon.
The more significant hearing on Alexander's extradition to the U.S. to face charges stemming from an options scandal is expected to be scheduled within a week, when U.S. authorities send Namibia the evidence and documents on which the extradition request is predicated. Alexander faces 32 charges of fraud and money-laundering related to a practice known as backdating - setting the exercise or strike price of employee options according to a low point in the stock price that later maximizes profits for the recipient.
The 54-year-old Alexander was arrested in Namibia on September 27 and was released on bail after six days in jail. Alexander denies the charges against him and told the Windhoek court that he plans to settle in the country and seek citizenship. It is acceptable in the African nation to seek an accelerated naturalization process in exchange for a payment of $30 million. Alexander told the court he has deposited $15 million in bank accounts in Namibia.
Namibian law specifies that extraditable suspects should be jailed throughout an appeals process, which can take years. A German national has been in jail in Namibia for four years while fighting his extradition.