Broadcom Cofounder Pleads Guilty to Lying to SEC

The former chairman, chief technology officer and cofounder of Broadcom admitted that he lied to the U.S. Securities and Exchange Commission and agreed to pay more than US$12 million for doing so.

In a plea agreement filed Monday in the U.S. District Court for the Central District of California, Henry Samueli agreed to pay the $12 million plus a $250,000 fine and serve five years of probation without any occupation restrictions.

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