Broadcom Cofounder Henry Samueli Reaches Plea Agreement, Admits He Lied To SEC

Broadcom Cofounder Henry Samueli Reaches Plea Agreement, Admits He Lied To SEC

Broadcom’s former management team is still in a heap of trouble over falsified financial statements, but it looks like co-founder Henry Samueli has managed to reach a plea deal with the Feds that’ll keep him out of jail — he’s admitted that he misstated Broadcom’s finances and knowingly backdated stock options issued to executives, and he’ll be fined some $12M plus an additional $250K, as well as serve five years’ probation. The court hasn’t yet approved the deal, but compared to the “warehouse of meth” antics of Henry T. Nicholas III, Broadcom’s other co-founder, a little accounting chicanery seems positively straightlaced, you know?

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