After Thursday morning’s news that former Countrywide CEO Angelo Mozilo is facing civil fraud charges comes news of the latest executive scandal. According to the Los Angeles Times, former KB Home chairman (and the ex-Mr. Aunt Sandy) Bruce Karatz was indicted Thursday on charges that he awarded himself and other executives millions of dollars in stock-based compensation. Apparently he’s been accused of backdating stock options for the L.A.-based home builder over a seven-year period to days when the company’s stock was trading at low levels.

After Thursday morning’s news that former Countrywide CEO Angelo Mozilo is facing civil fraud charges comes news of the latest executive scandal. According to the Los Angeles Times, former KB Home chairman (and the ex-Mr. Aunt Sandy) Bruce Karatz was indicted Thursday on charges that he awarded himself and other executives millions of dollars in stock-based compensation. Apparently he’s been accused of backdating stock options for the L.A.-based home builder over a seven-year period to days when the company’s stock was trading at low levels.

Anyone want to take bets on which executive will fall next?

View post at Curbed.com.

Copyright (c) 2009 Curbed.com LLC

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