The former general counsel of Comverse Technology Inc., who has pleaded guilty to a scheme to pocket millions by backdating stock options, on Wednesday agreed to pay some $3 million in fines and restitution to settle civil fraud charges filed by the Securities and Exchange Commission.
William F. Sorin also will be permanently barred from serving as an officer or director of any public company and from working as an attorney for one, under terms of the settlement with the SEC. He neither admitted nor denied wrongdoing under the accord, which calls for him to pay a $600,000 civil fine and $1,670,915 in restitution plus $817,509 in interest.
