Another Fraudster
Bruce Abraham Karatz, 63, served as chairman and chief executive of
Westwood-based KB Home from 1986 to 2006, when he resigned under fire.
Over a three-year period ending in 2005, Karatz garnered more than
$232 million in compensation. Bruce Karatz, who rode the housing boom
to become one of the highest-paid executives in the country, was
indicted by a federal grand jury Thursday on charges of manipulating
stock options KB Home grew rapidly during the recent housing boom.
From 1995 to 2005 the company's revenues rose 576%.
The company's stock, which topped $80 a share three years ago, closed
Thursday at $8.14, down 19 cents.
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