On June 20, 2008, federal prosecutors charged Henry Samueli, 43, who co-founded Broadcom with Nicholas, with making a false statement to the U. Securities and Exchange Commission, which had conducted an investigation of stock option back-dating at Broadcom.
Attorneys argued the parties with drugs and prostitutes were intended to win business.
Nicholas, 48, sold more than $1 billion of company stock during the backdating scheme, and still holds more than $300 million worth.
He has also conducted several internal investigations for large domestic and foreign companies, involving allegations of insider trading, securities fraud and violations of the Foreign Corrupt Practices Act (FCPA). Sloan played a lead role in Skadden’s successful defense of William J. Ruehle’s acquittal on all charges and the ultimate dismissal of the SEC’s civil enforcement action against Mr.
Ruehle, the former CFO of Broadcom Corporation, against criminal and civil charges stemming from Broadcom’s $2.2 billion restatement for allegedly backdating employee stock options.
Sloan conducted numerous grand jury investigations and was the lead or co-lead counsel in more than 30 trials, including the successful prosecution of defendants for health care fraud, bank fraud, wire fraud, money laundering, and various narcotics and firearms offenses. Sloan also has briefed and successfully argued numerous appellate cases before the Ninth Circuit, the D. Circuit and the Court of Appeals for the District of Columbia.
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Federal prosecutors charged that he had in fact been involved in the process.
Three days later, on June 23, Samueli, a billionaire philanthropist and owner of the Anaheim Ducks National Hockey League franchise, pled guilty as part of a plea agreement that called for five years probation and a fine of 0,000 (the legal maximum) and a million penalty.
Former Chief Financial Officer William Ruehle, 66, also indicted, was given options worth millions of dollars when they were granted, court papers say. Magistrate Judge Arthur Nakazato, Ruehle standing straight in a suit and tie, Nicholas sitting relaxed in an open-collared shirt and nodding as both were granted multi-million-dollar bail.