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: SECLaw.com

Another Executive Convicted - Of Lying

By Mark H. Astarita, Esq.

Incredible. Henry Samueli, the co-founder of Broadcom has pled guilty to charges in connection with the backdating investigation at Broadcom. What is incredible is that Mr. Samueli did not plead guilty to backdating, or fraud, or any of the underlying crimes, he pled guilty to making a false statement to the SEC staff during the course of their investigation.Another executive convicted of making false statements, rather than the underlying crime. Has corporate America lost its mind? Do people really think that the SEC staff is too stupid to figure out that you are lying?And this one is worse. Martha Stewart was convicted of lying during an interview. She was not sworn, it was not a deposition, and was not a formal setting. While I am not condoning her conduct, it is somewhat understandable to succumb to the temptation to lie to save your own neck in an informal interview, sitting across a desk from the SEC attorney...continue to full post

Full post as published by SECLaw.com on June 24, 2008 (boomark / email).

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