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Pleading Doesn’t Work for Samueli
by Alanah McGinley on 09/08/08 at 02:50 PM ET
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From Reuters,
A California judge on Monday rejected a proposed plea agreement sentence of probation and a fine for Broadcom Corp co-founder Henry Samueli as too lenient, and postponed the sentencing until later this month.
Samueli, 53, pleaded guilty in June to a charge of making a materially false statement to U.S. Securities and Exchange Commission investigators, following the company’s restatement last year of $2 billion in compensation expenses.
A story by the Associated Press further states that the judge’s written ruling expressed concern that to allow this deal would erode the public’s trust in the judicial system.
The original deal had “recommended that Samueli get five years probation and pay at least $12 million in penalties.” But today’s ruling means that that Samueli—owner of the Anaheim Ducks—may in fact “warrant a significant prison sentence,” according to the Reuters report.
Filed in: NHL Teams, Anaheim Ducks | KK Hockey | Permalink
Tags: henry+samueli,
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