$12.2 million payment and five year probation plea for Orange County billionaire and Broadcom co-founder Henry Samueli rejected
On Monday September 8, 2008 a federal judge in Orange County Federal Court rejected the felony plea deal for Henry Samueli to pay $12.2 million in penalties and serve five years probation as punishment after pleading guilty in June to federal crime charges in Orange County. The judge rejected the deal that prosecutors struck with the Orange County billionaire saying that it created the impression that “justice is for sale.”
Samueli, who co-founded Broadcom, an Irvine-based computer chip manufacturer, plead guilty to the charges after in 2007, Broadcom announced that the company’s executives had misdated stock option grants in order to underreport its compensation expenses. The company posted a $2.2 billion restatement to account for the errors.
Samueli’s Orange County felony defense attorney convinced the prosecutors that the plea deal was adequate but apparently the judge was not convinced. What is important to understand when you practice federal criminal defense is that the federal judge has the power to reject or accept any proposed plea agreement. It is for that reason that anyone being prosecuted for any federal crime needs a highly skilled federal criminal defense attorney on their side.
Wallin and Klarich has over 30 years of experience and are determined to give you the help you need when you are facing a federal criminal charge. Our qualified criminal defense attorneys specialize in all areas of criminal law.Visit our website at www.wklaw.com or call us 24 hours a day 7 days a week at 1-888-749-0034 to speak to one of our aggressive attorneys.