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It presents a question about the propriety of these cases.The fact that DOJ prosecutors crafted a plea deal with no factual predicate in violation of the Mr.As these cases moved forward, the government offered Mr. All charges and the prospect of serving years in prison would be dropped if he pleaded guilty to one count of making a false statement during his SEC investigative testimony. Sameuli testified for two days under a court ordered grant of immunity – the government refused the immunity request, apparently to keep him off the witness stand.Of course, the deal bolstered the government’s case against the others by seemingly precluding Mr. After listening to the testimony, Judge Carney concluded that Mr.Roberts was terminated from Mc Afee in May 2006, according to the prosecutor's press release.A host of companies have come under fire for the practice of backdating options, including CNET Networks, publisher of The recent rulings in the Broadcom cases raise more red flags.There, the government brought criminal and the SEC brought civil fraud charges against company co-founders Henry Samueli and Henry Nichols and former CFO William Ruehle.
Backdating itself is not necessarily illegal, provided companies properly disclose and account for the favorably priced options.
Kent Roberts, 50, of Dallas, was indicted Tuesday by a federal grand jury on seven counts of fraud for improperly backdating options between 20, according to a statement from the U. Attorney's Office for the Northern District of California in San Francisco.
Roberts is charged with "devising a scheme to defraud by granting himself and others valuable in-the-money stock options while hiding the true nature and value of the stock option grants," the statement says. Roberts joins a small but growing list of executives or former executives of companies charged in the U. companies are under investigation by the SEC, federal prosecutors or through internal audits.
Dozens of companies face either internal probes or inquries from the Securities and Exchange Commission and U.
The former legal counsel for Mc Afee is facing federal charges of improperly backdating stock options at the security software company.Roberts initiated an investigation in 2002 and recommended that the controller be removed from his position.