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Securities

Mar. 7, 2009

KB Home CEO Got 'Millions' With Options Fraud, Case Claims

A federal grand jury indicted the former chairman and chief executive of Westwood-based, home-building giant KB Home on Thursday for allegedly backdating stock option grants that secretly reaped him millions of dollars in additional compensation.

By Gabe Friedman
Daily Journal Staff Writer

LOS ANGELES - A federal grand jury indicted the former chairman and chief executive of Westwood-based home-building giant KB Home on Thursday for allegedly backdating stock option grants that secretly reaped him millions of dollars in additional compensation.

The 50-page indictment alleges Bruce Karatz operated a long-running scheme to make it appear as if his stock options had been granted at fair mark...

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