Gregory Reyes was born on September 1,1962 and is an American businessman who most recently served as the chief executive officer for Brocade Communications.
26 Facts About Gregory Reyes
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Gregory Reyes is the first person to have been convicted for fraudulent backdating of corporate stock options.
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Gregory Reyes began working full-time position at Convergent while taking evening classes in order to complete his degree.
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Gregory Reyes obtained his first CEO position with Wireless Access, a Silicon Valley start-up company specializing in two-way pagers.
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Gregory Reyes served as President and CEO until Wireless Access was bought out in 1997 by Glenayre Technologies.
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In 1998, Gregory Reyes became the CEO of Brocade Communications, where he led the company to its initial public offering in 1999.
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Gregory Reyes resigned from Brocade when he was indicted by the US government for accounting irregularities associated with corporate stock options backdating.
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Gregory Reyes was originally convicted in 2007, but the conviction was overturned on appeal.
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Gregory Reyes was retried in 2010, and again convicted; the second conviction was upheld on appeal.
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Gregory Reyes is the first corporate official to be convicted of concealing stock options backdating in the United States.
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Gregory Reyes's trial began on June 18,2007, making it the first criminal trial in which a backdating prosecution was considered before a jury.
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Gregory Reyes filed a motion for a new trial on the grounds of prosecutorial misconduct, which was denied by the district court.
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On January 16,2008, Gregory Reyes was found guilty of 10 counts of fraud and conspiracy, including falsifying corporate accounting books and records, and participating in a stock options backdating scheme.
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Gregory Reyes was sentenced to 21 months in prison in addition to a $15 million fine, making him the first executive to be convicted of the concealment of stock options backdating.
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Gregory Reyes was represented in the appeal by former US Solicitor General Seth Waxman.
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Gregory 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.
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Gregory Reyes's attorney stated that Gregory Reyes will likely file another appeal.
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On June 24,2010, Gregory Reyes was sentenced to 18 months' incarceration and a $15 million fine.
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Gregory Reyes was incarcerated at the Taft Correctional Institution in Taft, California; he was released on December 29,2011.
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Gregory Reyes appealed this second conviction to the Court of Appeals for the Ninth Circuit, which heard oral argument on May 10,2011.
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On February 10,2012, Gregory Reyes petitioned the US Supreme Court for a writ of certiorari, asking the court to review the case.
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Gregory Reyes settled one of the other suits, a derivative suit brought by Brocade shareholders on behalf of the company, in June 2009, for a reported $12.5 million.
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In 2017, Gregory Reyes sued for a declaration that his conviction was for a crime excluded from the Gun Control Act of 1968.
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On January 20,2021, Greg Gregory Reyes was granted a full pardon by President Trump.
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Gregory Reyes was later retried, convicted, and sentenced to 18 months in Federal prison.
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Mr Gregory Reyes has accepted full responsibility for his actions and has been out of prison for more than 8 years.