05/24/2010 02:40 pm ET Updated May 25, 2011

Bruce Karatz Trial: Former KB Home CEO Bruce Karatz Puts Bel-Air Home Up For Sale

Former KB Home Chief Executive Bruce Karatz, who is awaiting sentencing on charges related to the backdating of company stock options, has put up his Bel-Air home as collateral so he can remain free on bail.

Karatz, 64, was convicted April 21 on two counts of mail fraud, making false statements in regulatory filings and lying to the company's accountants. Sentencing is scheduled for Sept. 8 before U.S. District Judge Otis D. Wright II at the federal courthouse in Los Angeles.

After the conviction, Wright increased Karatz's bail to $2 million.

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