Ex-Monster Lawyer Pleads in Option Case

The former general counsel of Monster Worldwide Inc. pleaded guilty Thursday to stock-options backdating in U.S. federal court in New York.

Myron Olesnyckyj, 45, admitted he backdated stock-option grant dates, while concealing the expense in company financial disclosures and providing misleading information to auditors.

Prosecutors said Olesnyckyj’s own e-mails ensnared him.

No written document should ever state lowest price over next 30 days! an e-mail to a human resources executive said. The auditors will view that as backdating options and we’ll have a charge to earning in the amount of the difference between price on day 30 and any lower price which is used.

Olesnyckyj, who was fired from the Monster.com job-search company last year, is expected to cooperate with prosecutors against Monster founder Andrew McKelvey, The Wall Street Journal reported.

McKelvey, who has not been charged, quit rather than be interviewed by company lawyers examining Monster’s options problems.

Olesnyckyj, who is to be sentenced Aug. 24, faces a maximum of 25 years in prison. He will likely receive a shorter sentence because of his cooperation.