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Criminal

Jan. 21, 2011

Karatz and Prosecutors Abandon Appeals

Federal prosecutors and former KB Home CEO Bruce Karatz have both unceremoniously dropped their respective appeals in the real estate mogul's criminal conviction for backdating.


By Gabe Friedman


Daily Journal Staff Writer


LOS ANGELES - Federal prosecutors and former KB Home CEO Bruce Karatz have both unceremoniously dropped their respective appeals in the real estate mogul's criminal conviction for backdating.


A federal jury in Los Angeles convicted Karatz last spring on four of 20 counts including that he covered up his scheme to backdate stock options.


U.S. District Judge Otis Wright declined to issue...

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