NordVPN Promotion

Home / Blogs

VeriSign Director Charged with Securities Fraud

Bloomberg is reporting that Gregory Reyes is facing criminal and civil charges in relation to securities fraud. Reuters and the Mercury News also have coverage.

Former Brocade Communications Systems Inc. Chief Executive Officer Gregory Reyes became the first CEO charged in the U.S. probe of the backdating of stock option grants to create lucrative employee pay packages.

Reyes, 43, who was ousted as head of the Silicon Valley maker of computer equipment in January 2005 after an earnings restatement, was charged with securities fraud, according to a criminal complaint filed today in San Francisco federal court. Also charged was ex-human resources vice president Stephanie Jensen for her role in backdating option grants for new hires.—Bloogberg, July 20, 2006

Mr. Reyes is a current director of VeriSign and thus the issues I raised in an earlier CircleID story, regarding the ability of ICANN to terminate the VeriSign .com registry agreement using section 16.C appear to now be closer to reality. This is another reason for the DoC not to approve the new agreement, as it doesn’t have similar termination provisions.

By George Kirikos, President, Leap of Faith Financial Services Inc.

Filed Under

Comments

George Kirikos  –  Aug 2, 2006 11:41 PM

Reuters is reporting that he has now resigned from the VeriSign Board.

Comment Title:

  Notify me of follow-up comments

We encourage you to post comments and engage in discussions that advance this post through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can report it using the link at the end of each comment. Views expressed in the comments do not represent those of CircleID. For more information on our comment policy, see Codes of Conduct.

CircleID Newsletter The Weekly Wrap

More and more professionals are choosing to publish critical posts on CircleID from all corners of the Internet industry. If you find it hard to keep up daily, consider subscribing to our weekly digest. We will provide you a convenient summary report once a week sent directly to your inbox. It's a quick and easy read.

Related

Topics

Cybersecurity

Sponsored byVerisign

IPv4 Markets

Sponsored byIPv4.Global

Threat Intelligence

Sponsored byWhoisXML API

Domain Names

Sponsored byVerisign

DNS

Sponsored byDNIB.com

New TLDs

Sponsored byRadix

Brand Protection

Sponsored byCSC

NordVPN Promotion