Ex-Comverse Exec to Pay $3 Million

By Katie Hauser

Published on January 16, 2007

Sorin will also face a permanent injunction, suspension from appearing before the SEC as an attorney, and a permanent bar from acting as an officer or director of a publicly traded company.

Sorin acted as general counsel of Comverse Technology, Inc. He and two other former executives were charged in August 2006 in one of the first of many SEC investigations into corporate backdating schemes. The SEC alleges that Sorin and others falsified company records in order to increase their personal profits from company stocks.

Sorin neither affirms nor denies the allegations.

In a separate case filed Nov. 2, Sorin pleaded guilty to one criminal count of conspiracy to commit wire fraud, securities fraud, and mail fraud. The plea was part of an agreement reached with the United States Attorney’s Office for the Eastern District of New York.

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