The U.S. Justice Department and the Securities and Exchange Commission said Wednesday that the slush fund was part of an elaborate fraud carried out by three former senior executives of Comverse , including former CEO and founder Jacob "Kobi" Alexander .

FORBES: Magazine Article

The U.S. Justice Department and the Securities and Exchange Commission said Wednesday that the slush fund was part of an elaborate fraud carried out by three former senior executives of Comverse (nasdaq: CMVT - news - people ), including former CEO and founder Jacob "Kobi" Alexander .

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Hundreds of people wound up outside in the slush, eventually gathering inside the lobby, waiting to find out what next.

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