HenrySamueli
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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?
Broadcom co-founder allegedly spiked tech execs' drinks, had "warehouse" of coke and meth
We've never really thought of Broadcom as being anything more than a fairly boring chip supplier, but apparently there's some glitz in the silicon game: co-founder Henry T. Nicholas III is currently in FBI custody after being indicted on charges of spiking other tech execs' drinks and maintaining a "warehouse for ecstasy, cocaine, and methamphetamine." The charges are in addition to another indictment charging Nicholas and former Broadcom CFO William J. Ruehle with conspiracy, securities fraud, and options backdating, and a civil suit alleging that Nicholas, Ruehle, co-founder Henry Samueli and general counsel David Dull falsified Broadcom's reported income. There's not a lot of details out there yet about who Nicholas was slipping mickeys too, but we're certain there's a lot of dirt waiting to get out -- expect this one to become an even bigger circus than the Stefan-and-Dieter Gizmondo show.
