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Broadcom Co-Founder Indicted On Conspiracy Charges

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Jun 5, 2008 10:18 am US/Pacific

Broadcom Co-Founder Indicted On Conspiracy Charges

SANTA ANA, Calif. (AP) ― Federal officials have unsealed indictments charging Broadcom co-founder Henry T. Nicholas III with drug charges and crimes related to stock options backdating.

The indictments, returned by a federal grand jury and unsealed Thursday, charge Nicholas with a total of 25 counts, including conspiracy, securities fraud, false certification of financial reports, filing false statements with the U.S. Securities and Exchange Commission, wire fraud and conspiracy to distribute and acquire controlled substances.

Last month, securities regulators charged Nicholas and co-founder Henry Samueli in a civil suit with falsifying the company's reported income, leading to what is believed to be the largest accounting restatement yet because of backdating stock options.

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