Plea Deal In Federal Fraud Case Doesn't Pass The Test
Plea Deal In Federal Fraud Case Doesn\'t Pass The Test
According to Samueli, a plea deal that was reached by another former Broadcom executive placed undue pressure on Samueli to violate his right to avoid self-incrimination. Samueli is listed as an unindicted co-conspirator in the action. Samueli says that by not accepting the plea agreement, the trial court judge is attempting to force Samueli to cooperate with prosecutors in their attempts to reach two other Broadcom executives who have been indicted in a securities fraud case.
In that matter, federal prosecutors assert that Broadcom executives conspired to back-date stock options, and company records in a way that eventually cost shareholders more than $2.2 billion. The Securities and Exchange Commission also has a civil case pending against some Broadcom executives. Samueli pleaded guilty last year to lying to the SEC.
The problem with the plea deal, according to the judge, was that it involved a $12 million fine and no jail time. The maximum fine allowed by law under Samueli's circumstances is $250,000, prompting the judge to refuse Samuel's plea agreement, saying "the court cannot accept a plea agreement that gives the impression that justice is for sale." The Appeals panel said that it did not have the authority to overturn the trial judge's decision on the plea agreement.
The role of plea agreements can be essential in federal criminal cases. If you have federal criminal charges pending against you, or have been arrested for federal crimes involving fraud, Los Angeles federal criminal defense attorney Robert Michael Helfend can help. Mr. Helfend has more than 25 years experience in providing effective criminal defense and will work to have the charges against you reduced or dropped. Contact Robert Helfend today for a free consultation on your federal fraud charges.
Photo Credit: Marshall Astor, via Flickr