Grand Theft Options
(Sure, sure, you could see that one coming up De Anza Blvd.)
Ryan Brant, the founder and former CEO and Chairman of Take-Two, makers of Grand Theft Auto, pleads guilty to illegally covering up the backdating of options.
For those of us on Jobs options watch, there are some disturbing results here. Not only was Brant fined, but he was barred from every holding a top office at a publicly traded company again.
However, the charges were considerably different than what Jobs was involved in.
The SEC and New York prosecutors accused Brant of awarding himself 10 backdated option grants from 1997 to 2003 for a total of about 2.1 million shares of Take-Two stock, all of which he exercised before resigning from the company in October.
Looks like Brant will avoid jail, sparing himself the uncomfortable irony of having to do time with actual car-jackers.