back to article Former Brocade boss gets 21 months in prison

Gregory Reyes, the former chief of Brocade, today was sentenced to 21 months in prison and fined $15m for masterminding a securities scheme using backdated options. Reyes was the first executive in the US who went to trial over the improper dating of stock-option awards. Altering the date of stock options records so they …

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  1. Anonymous Coward
    Anonymous Coward

    I am a little cornfused

    Apple did this no one got jailed many other corporations did this none were jailed this guy did it and it's illegal whats the real crime here it worked and he made money I'm sorry this looks like a crap to me either put everyone in jail that backdated stock options or none of them this is simply arbitrary justice and there is nothing more pathetic.

  2. Steve Browne

    Day after day

    Whilst Ac's comment on arbitrary justice is valid and worthy of appeal, I find that having these tough, business like bosses breaking down in court and wishing they could turn back the clock quite pathetic.

    Quite simply, if you don't want the time, don't do the crime, especially if teh SEC is involved.

  3. Anonymous Coward
    Joke

    Clockwatching...

    "There is much that I regret, and if I could turn back the clock, I would."

    You did turn back the clock, that's what got you in trouble the last time!

    OK, it was for not declaring the clock turnery, but avoiding any form of turning back clocks would probably be the safest choice from now on. Some people never learn...

  4. Anonymous Coward
    Alert

    Legal?

    Giving in the money options is legal (although prohibited in the majority of companies by their boards and stockholders).

    Backdating the grant to hide the fact that they're indeed in the money has always been illegal.

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