Broadcom co-founder pleads guilty to SEC charges

Broadcom co-founder former chairman and CTO Henry Samueli, accused of making false statement to the Securities and Exchange Commission in connection with a stock-option backdating case against Broadcom, yesterday pleaded guilty and faces five years probation and some $12 million in penalties.

Broadcom's former CEO, Henry Nicholas III, and ex-CFO, William Ruehle, have pleaded not guilty to similar charges.

Broadcom-founded in 1991 by Samueli and Nicholas-as part of the brouhaha paid the SEC $12 million and restated several years of its financial results, including posting $2.2 billion in extra backdating-related expenses.

For more:
- See the Wall Street Journal story

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