SiliconBeat

If we suddenly seem obsessed with UTStarcom (ticker:UTSI) of Alameda, well, guilty as charged. But then, with filings this fun, what’s not love?

As we wrote last week, there’s been big layoffs, there are two federal investigations, including one for allegedly bribing a Mongolian official, and some funny business with its sales offices in Western China.

Now comes the proxy. UTStarcom filed its proxy on Tuesday for 2006, and as you’d expect, executives were rewarded for a job well done. CEO Hong Liang Lu got $3.34 million last year, including a $700,000 salary and some assorted stock and options. And CFO Francis Barton got $2.032 million package, including $85,624 for a car allowance.

The filing also notes this gem. In February, the board voted to raise the salary of Ying Wu, the executive vice president of the company’s China operations, from $500,000 to $550,000. In June, he was “terminated.”