Ex-CEO, CFO charged in backdating cases

0 Comments | USA TODAY, July, 2007 | by Edward Iwata

Federal officials stepped up their crackdown in the nationwide stock-option backdating scandals, announcing civil and criminal charges Wednesday against former executives of a major Silicon Valley company and a Maryland-based software firm.

In San Francisco, the Securities and Exchange Commission charged Kenneth Schroeder, former CEO of the KLA-Tencor semiconductor-equipment firm, with fraud in connection with a backdating scheme.

And in New York, the Justice Department and Postal Inspection Service said that Carole Argo, former chief financial officer of the SafeNet security software firm, has been indicted on securities fraud and conspiracy charges of backdating millions of dollars of employees' stock-option grants.

Michael Garcia, the U.S....

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