Broadcom co-founder scheduled as defense witness in OC fraud trial of former executive

Broadcom co-founder to testify in OC fraud trial

SANTA ANA, Calif. — Broadcom Corp.’s co-founder is scheduled to take the stand in the fraud trial of the company’s chief financial officer.

Henry Samueli won immunity from a federal judge in Orange County, Calif., last week and was ordered to testify. He’s expected to be a defense witness for CFO William Ruehle, who’s accused of backdating stock options.

Broadcom hasn’t admitted any wrongdoing, but the computer chip maker reduced previous financial results by $2.2 billion in 2007 and agreed to pay $12 million to settle a federal lawsuit.

Samueli pleaded guilty last year to lying to Securities and Exchange Commission during its investigation. However, his legal team has asked a judge to dismiss the charge due to prosecutor misconduct, including leaking grand jury information to the media.