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Securities

Apr. 3, 2010

Ex-Mayor Testifies in KB Home Case

Former KB Home chief executive Bruce Karatz began wrapping up his defense against criminal stock option backdating charges by calling the aging, endearing two-term former Los Angeles Mayor Richard Riordan as a character witness.

By Gabe Friedman

Daily Journal Staff Writer

LOS ANGELES - Former KB Home chief executive Bruce Karatz on Thursday began wrapping up his defense against criminal charges he backdated stock option grants by calling the aging, endearing two-term former Los Angeles Mayor Richard Riordan as a character witness.

Riordan, 79, with white hair and a quick smile, called Karatz a "very, very close" friend and vouched for his int...

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