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Greg Reyes is an American businessman known for working as the CEO of American technology company Brocade Communications. He is the first person in history to be convicted of stock option backdating fraud.
The Ninth Circuit Court of Appeals overturned Reyes’ conviction. This establishes misconduct by the public prosecutor. He was later retired and sentenced to 18 months in federal prison. He’s been out of prison for over eight years.
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Quick Facts: Greg Reyes Brocade Net Worth, Wife And Family: 10 Facts To Know About
Surname
Gregory Reyes
birthday
September 1, 1962
Age
58
gender
Masculine
nationality
American
profession
businessman; chairman
education
Saint Mary’s College of California
10 Facts on Greg Reyes
Greg Reyes is the CEO of Brocade Communications and the first man convicted of stock option backdating fraud. In January 2021, he was granted a full pardon by US Present Donald Trump. The pardon was also supported by Shon Hopwood, a popular American attorney, Brett Tolman, as well as many others. Greg Reyes has a Wikipedia on the internet. While his biography is covered by numerous online sites which includes us. Greg was born on September 1st, 1962 in the United States of America. He is currently 58 years old. Greg Reyes has not yet released his family details. He received his BBA from the prestigious Saint Mary’s College of California in 1984. Reyes also worked as a sales representative for Convergent and Reyes served as the first CEO at Convergent Wireless Access, a Silicon Valley. The CEO of Brocade; Greg Reyes has not disclosed the names of his wife and children and their respective backgrounds to the online sites. talk about his income; his actual salary was not disclosed. Sources also revealed that Greg Reyes’ net worth was estimated at billions of dollars. In the current situation, however, it should be less.
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Greg Reyes Brocade Net Worth, Wife And Family: 10 Facts To Know About … Greg Reyes is an American businessman who is known for working as …
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A well-known American businessman, Grey Reyes is the former head of a tech firm at Brocade Communications Systems. He served as its CEO from 1998 to 2005.
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Gregory Reyes – Wikipedia
Gregory Reyes (born September 1, 1962) is an American businessman who most recently served as the chief executive officer (CEO) for Brocade Communications.
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Greg Reyes Wife Age And Family 10 Facts To Know About
Gray Reyes, a prominent American businessman, is a former technology company executive at Brocade Communications Systems. From 1998 to 2005 he was its CEO. Reyes first rose to international prominence following his conviction for securities fraud.
Net Worth, Bio, Age, Height, Family, Wiki!
Gregory Reyes Net worth, Birthday, Age, Height, Weight, Wiki, Fact 2021-22! In this article we will find out how old Gregory Reyes is. Who is Gregory Reyes dating now and how much money does Gregory Reyes have?
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Gregory Reyes Biography
Gregory Reyes is a famous businessman who was born on September 1, 1962 in the United States. According to astrologers, the zodiac sign is Virgo.
Gregory Reyes (born September 1, 1962) is an American businessman who most recently served as chief executive officer (CEO) for Brocade Communications. He is the first person convicted of fraudulently backdating company stock options.
After high school, Reyes attended Saint Mary’s College of California in Moraga, California, where he earned a degree in business administration in 1984. While studying there, Reyes completed an internship at Convergent Technologies (Unisys) in the sales department. Reyes began a full-time job at Convergent while attending night classes to earn his degree. After graduating, Reyes became an OEM sales representative for Convergent and then joined Banyan Systems, a networking and datacoms software company, as vice president of sales and support.
Ethnicity, religion and political views
Many people want to know what is Gregory Reyes ethnicity, nationality, ancestry and race. let’s check it out!
According to public source, IMDb and Wikipedia, Gregory Reyes’ ethnicity is unknown. We will update Gregory Reyes’ religious and political views in this article. Please check the item again after a few days.
Reyes received his first position as CEO at Wireless Access, a Silicon Valley start-up specializing in two-way pagers. Reyes was President and CEO until Wireless Access was acquired by Glenayre Technologies in 1997.
Gregory Reyes net worth
Gregory Reyes is one of the world’s richest entrepreneurs and featured on the list of most popular entrepreneurs. According to our analysis, Wikipedia, Forbes & Business Insider, Gregory Reyes’ net worth is around $1.5 million.
Gregory Reyes Net worth and Salary Net worth $1.5 million Salary under review Source of income Businessman Cars unavailable House Living in own home.
Reyes received his first position as CEO at Wireless Access, a Silicon Valley start-up specializing in two-way pagers. Reyes was President and CEO until Wireless Access was acquired by Glenayre Technologies in 1997.
In 1998, Reyes became CEO of Brocade Communications, where he led the company to its 1999 IPO. As CEO of Brocade Communications, Reyes sold storage area network (SAN) infrastructure to a number of companies including IBM, EMC Corp., Compaq, Dell, NEC and HP.
Gregory Reyes height
Size of Gregory Reyes Currently not available. Weight unknown and body measurements will be updated soon.
Gregory Reyes Height & Stats Height unknown Weight not known Body measurements in review Eye color not available Hair color not available Foot/Shoe size not available
During Reyes’ tenure as CEO, Brocade was the world’s largest manufacturer of data storage networking equipment. Under his leadership, the company went public in May 1999 and grew from a small startup to one of the largest and most successful technology companies in Silicon Valley – a leadership position it still holds today. During that time, Brocade had 7 quarters of profitability and revenue growth – in the first two years alone, total revenue growth exceeded 150%. In addition, Reyes actively pursued hiring of more than 1,150 employees and multiplied the company’s workforce by a factor of more than six from 1999 to 2002, when the company implemented massive layoffs in response to the bursting of the dot-com bubble.
Who is Gregory Reyes dating?
According to our records Gregory Reyes may be single and has not previously been engaged. As of June 2021, Gregory Reyes is not dating anyone.
Relationship Record: We have no record of Gregory Reyes’ previous relationships. You can help us create the dating records for Gregory Reyes!
Reyes’ trial began on June 18, 2007, making it the first criminal trial in which a retrospective charge was considered by a jury.
Facts & things worth knowing
Placed on the list of the most popular businessmen. Also included in elite list of United States-born famous celebrities. Gregory Reyes celebrates his birthday on September 1st every year.
On August 11, 2007, Reyes was found guilty of ten counts of illegally backdating stock options while serving as CEO of Brocade. In January 2008, he was sentenced to 21 months in prison and a $15 million fine. U.S. District Judge Charles R. Breyer, the sentencing judge, refused to grant the defense’s request for a sentence of no more than 13 months to be served in a transitional house rather than in prison.
Reyes resigned from Brocade when he was charged by the US government with accounting irregularities related to the backdating of company stock options. Reyes was originally convicted in 2007, but the conviction was overturned on appeal. He was tried again in 2010 and convicted again; The second conviction was upheld on appeal.
Reyes requested a new trial of prosecutorial misconduct, which was denied by the district court. On January 16, 2008, Reyes was found guilty of fraud and conspiracy on 10 counts, including falsifying company books and records and participating in a stock option backdating program. Reyes was sentenced to 21 months in prison in addition to a $15 million fine, making him the first executive convicted of concealing retroactive stock options.
In August 2009, the Ninth Circuit Court of Appeals vacated Reyes’ conviction on prosecutorial misconduct by making a false allegation of material facts in its closing argument before the jury. In October 2009, federal prosecutors asked the Ninth Circuit to overturn its finding of prosecutorial misconduct, but declined to ask the court to overturn the verdict itself. That request was denied on November 6th. In December 2009, Northern California legal newspaper The Recorder reported that prosecutors had made a decision to try Reyes again.
You can read the full biography about Gregory Reyes from Wikipedia.
Gregory Reyes
American businessman (born 1962)
Gregory Reyes (born September 1, 1962) is an American businessman who most recently served as chief executive officer (CEO) for Brocade Communications. He is the first person convicted of fraudulently backdating company stock options.[1][2]
Education and career[edit]
After high school, Reyes attended Saint Mary’s College of California in Moraga, California, where he earned a degree in business administration in 1984. While studying there, Reyes completed an internship at Convergent Technologies (Unisys) in the sales department. Reyes began a full-time job at Convergent while attending night classes to earn his degree. After graduating, Reyes became an OEM sales representative for Convergent and then joined Banyan Systems, a networking and datacoms software company, as vice president of sales and support.
Reyes received his first position as CEO at Wireless Access, a Silicon Valley start-up specializing in two-way pagers. Reyes was President and CEO until Wireless Access was acquired by Glenayre Technologies in 1997.[3][unreliable source?]
In 1998, Reyes became CEO of Brocade Communications, where he led the company to its IPO in 1999.[3] As CEO of Brocade Communications, Reyes sold SAN (Storage Area Network) infrastructure to a number of companies including IBM, EMC Corp., Compaq, Dell, NEC and HP.
During Reyes’ tenure as CEO, Brocade was the world’s largest manufacturer of data storage networking equipment. Under his leadership, the company went public in May 1999 and grew from a small startup to one of the largest and most successful technology companies in Silicon Valley – a leadership position it still holds today. During that time, Brocade had 7 quarters of profitability and revenue growth – in the first two years alone, total revenue growth exceeded 150%.[4] In addition, Reyes actively sought to hire more than 1,150 employees and multiplied the company’s workforce by a factor of more than six from 1999 to 2002[5], when the company implemented massive layoffs in response to the bursting of the dot-com bubble .
Reyes resigned from Brocade when he was charged by the US government with accounting irregularities related to the backdating of company stock options. Reyes was originally convicted in 2007,[6] but the conviction was overturned on appeal.[7] He was retried and reconvicted in 2010;[8] the second conviction was upheld on appeal.[9]
Reyes is the first company official convicted of concealing stock options in the United States.[10]
Backdating issue of stock options [ edit ]
Fees[ edit ]
In June 2005, Brocade announced that the U.S. Securities and Exchange Commission conducted an investigation into the company’s stock option accounting.[11] In August 2006, the US government indicted Reyes on 12 counts of securities fraud, two of which were later dropped.[11]
First try[edit]
Reyes’ trial began on June 18, 2007, making it the first criminal trial in which a retrospective charge was considered by a jury.
At the hearing, Reyes stated that he had no intention of deceiving anyone and that his decisions were based largely in good faith on the accuracy of documentation provided by Brocade’s Treasury Department, the stock options included in Brocade’s financial statements, which he had well underwritten, misrepresented with confidence and belief that they were properly accounted for.
Elizabeth Moore, a key witness at Reyes’ sentencing and the only Brocade Treasury officer summoned at the trial, testified that neither she nor any other Treasury officer was aware of any backdating or fraudulent incidents within the organization. However, after the trial concluded, Moore recanted her testimony, claiming she had been bullied by prosecutors and pressured into making false statements. In a letter to Fortune Magazine, she told an editor that she and other senior members of the Treasury department were aware of the practice of backdating stock options to non-employees.
Moore’s conflicting statements were not disclosed at the trial, and prosecutor Adam Reeves made numerous testimonies before the jury, using Moore’s testimony to support his argument that Reyes had misled Brocade’s Treasury Department. he presented a chart to illustrate that nobody in the finance department knew about the backdating; In his closing arguments, he made statements in which he claimed that Treasury staff had no idea the backdating had taken place, adding that the government’s theory, based on their investigative findings, supported that conclusion.
Reyes requested a new trial of prosecutorial misconduct, which was denied by the district court. On January 16, 2008, Reyes was found guilty of fraud and conspiracy on 10 counts, including falsifying company books and records and participating in a stock option backdating program. Reyes was sentenced to 21 months in prison in addition to a $15 million fine, making him the first executive convicted of concealing retroactive stock options.[12]
On August 11, 2007, Reyes was found guilty of ten counts of illegally backdating stock options while serving as CEO of Brocade.[6] In January 2008, he was sentenced to 21 months in prison and a $15 million fine.[13] US District Judge Charles R. Breyer, the sentencing judge, refused to grant the defense’s request for a sentence of no more than 13 months to be served in a transitional home rather than in prison.[14]
vocation [edit]
In August 2009, the Ninth Circuit Court of Appeals overturned Reyes’ conviction based on prosecutorial misconduct when it made a false statement of material fact in its closing argument before the jury. In October 2009, federal prosecutors petitioned the Ninth Circuit to vacate its finding of prosecutorial misconduct, but declined to ask the court to reverse the verdict itself,[15] that motion being denied on November 6.[16] In December 2009, Northern California legal newspaper The Recorder reported that prosecutors had made a decision to try Reyes again.
On appeal, the National Association of Criminal Defense Lawyers supported Reyes with a brief amicus plea for reversal.[19] Reyes was represented on appeal by former US Attorney General Seth Waxman.[20]
Second trial and appeal[ edit ]
Reyes’ second retrospective trial (or retrial) began on February 22, 2010 in the courtroom of US District Judge Charles Breyer. Reyes was charged with 1 count of falsifying books and records, 4 counts of lying to auditors, 4 counts of security fraud and 1 count of conspiracy.
On March 26, 2010, the jury found Reyes guilty on nine counts and acquitted him of the conspiracy charge. Reyes’ attorney stated that Reyes is likely to file another appeal. On June 24, 2010, Reyes was sentenced to 18 months in prison and a $15 million fine.[8] Reyes was imprisoned at Taft Correctional Institution in Taft, California;[21] he was released on December 29, 2011.[22][23] He appealed this second conviction to the Ninth Circuit Court of Appeals, which heard an oral hearing on May 10, 2011. The court upheld the conviction on October 13.[9][26] On February 10, 2012, Reyes petitioned the US Supreme Court for a writ of review of the case. The petition was rejected the following month.[28]
civil proceedings[edit]
In addition to the criminal case, Reyes has also been named in several civil lawsuits in state and federal courts[29] resulting from the backdating, including one by the U.S. Securities and Exchange Commission filed a federal lawsuit, which he settled in August 2011 for $845,000.[30] Reyes has settled one of the other lawsuits, a derivative lawsuit filed by Brocade shareholders on behalf of the company in June 2009 for allegedly $12.5 million.
After Reyes was released from prison and his parole expired, he attempted to purchase a pistol, but was denied when the background check revealed he was a convicted felon.[32] In 2017, Reyes, responding to a statement, pleaded that his conviction was for a felony barred by the 1968 Gun Control Act. In 2018, US District Court Judge John D. Bates ruled in favor of Reyes.[32]
Full apologies[edit]
On January 20, 2021, Greg Reyes was granted a full pardon by President Trump.[35] “President Trump granted Greg Reyes a full pardon. This pardon is supported by Shon Hopwood, former US Attorney Brett Tolman and numerous others. Mr. Reyes was the former CEO of Brocade Communications. Mr Reyes was convicted of securities fraud. However, the Ninth Circuit Court of Appeals overturned his convictions and found prosecutorial misconduct. He was later retried, convicted and sentenced to 18 months in federal prison. Mr. Reyes has accepted full responsibility for his actions and has been out of prison since more than 8 years.” When asked how he received the pardon in an interview on Clubhouse on March 1, 2021 at the “A16Z BIO” club, Reyes said he reached out to several people he believes they could potentially help him get a pardon.These included unnamed friends of friends who played golf with President Trump, Shon Hopwood, Brett Tolman, David Horowitz, and Fox News anchor Maria Bartiromo, who was in regular contact with President Trump. Mr. Reyes did not say or appear to know which approach worked, but he ultimately received the pardon.[36]
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