"Citron, who dropped the CEO title when Snyder arrived in February 2006, continued in the role of chairman and as Vonage's chief strategist."

" with the U.S. Securities and Exchange Commission in connection with a securities fraud investigation dating back to 1993 -- before Citron joined the Holmdel, N.J.-based company."

"In the case, Citron was one of four individuals and one company charged with "participating in an extensive fraudulent scheme involving the Nasdaq Stock Market's Small Order Execution System from 1993 to June 2001," according to the settlement. "

"Citron and the other defendants were charged with securities fraud and violations of the SEC's broker-dealer books and records and reporting provisions, according to the settlement. "

"Before joining Vonage, Citron in 1995 founded The Island, an electronic communications network used to automate stock market order execution processes. In February 1998, he became the chairman and CEO of Datek Online Holdings Corp. He was with both companies until October 1999, according to his Vonage biography."

"The SEC settlement said Citron and the other defendants "devised and orchestrated the unlawful SOES trading scheme" at the former Datek Securities Corp. from 1993 to March 1998."

"As part of his settlement with the government, Citron did not admit to or deny the SEC's charges. "

"Yet despite that earlier brush with the SEC, Citron will likely have more trouble turning Vonage's stalled business around than gaining the support of any wary customers or investors, said Umesh Ramakrishnan, global head of the technology practice of executive search firm Christian & Timbers in New York. "

" Be part of The Computerworld Honors Program's 19th Annual Search for New Heroes by nominating an innovator in the IT realm. "

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