Samueli Pleads Guilty in Options Fraud Case
The Los Angeles Times is reporting that Anaheim Ducks owner Henry Samueli has pleaded guilty to charges that he lied to representatives of the Securities and Exchange Commission while they were investigating his role in the backdating of stock options at Broadcom, the company he co-founded. As part of a plea agreement, Samueli will serve five years probation and agree to pay a $12.2 million fine.
So what does it mean for the Ducks? Not a whole lot. Sure, this is an embarrassing and humiliating experience for Samueli -- a man who some would argue didn't do anything at Broadcom that plenty of other high-tech companies were doing at the same time -- but NHL Vice President Bill Daly has already said it wouldn't affect his ownership of the Ducks. While a $12.2 million fine would sting anybody, Samueli, whose net worth was pegged by Forbes back in 2003 at about $2.3 billion, can afford it pretty easily.