Broadcom co-founder will be tried

January 26, 2009 3:03:33 PM PST
The financial fraud trial of Broadcom billionaire Henry T. Nicholas III will be delayed until the case of his co-defendant concludes.

U.S. District Court Judge Cormac J. Carney says in a ruling Monday he wants the trial of former chief financial officer William Ruehle to begin by July 21. The ruling also grants a motion by Nicholas to be tried separately.

Nicholas co-founded the tech company that makes telecommunications chips.

Both men pleaded not guilty to 21 felony counts of alleged accounting and securities fraud. Authorities accuse them of conspiring to backdate employee stock options.


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