Faced with these red flags, Attorney General Eric Holder and SEC Chairman Mary Schapiro should immediately review the merits and propriety of these prosecutions. Roberts, claiming he engaged in criminal conduct when the company backdated its stock options. Those concerns should be intensified by the fact that the jury deadlocked on a few charges requiring the judge intervene to avoid a possible miscarriage of justice since the facts clearly were not there to support the charges. If the evidence is solid, there is no need for such conduct.

Red flag number one is the acquittal on criminal stock option backdating charges of former Mc Afee, Inc. The SEC chimed in with parallel civil fraud charges. The fact that prosecutors felt compelled to skew the fact-finding process with overreaching is a virtual admission that the prosecution is deeply flawed and that the claims announced with such drama at the press conference are not firmly grounded in the facts.

Kent Roberts, 50, of Dallas, was indicted Tuesday by a federal grand jury on seven counts of fraud for improperly backdating options between 20, according to a statement from the U. Attorney's Office for the Northern District of California in San Francisco.

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The three men faced multiple fraud charges from DOJ and the SEC based on the backdating of stock options at Broadcom.

The charges hinged on the question of whether the three intended to defraud the shareholders, not if the options had in fact been backdated, which they were.

Roberts' indictment is the second case brought by a last year. Roberts is charged with two counts of mail fraud, one count of wire fraud, three counts of making false Securities and Exchange Commission filings, and one count of falsifying the books, records and accounts of Network Associates.

"It is integral to the public trust in our financial markets that transactions affecting a company's financials are recorded honestly, particularly by those who are responsible for regulatory compliance," U. In October, amid an internal probe into its options practices, Mc Afee , replacing CEO George Samenuk and President Kevin Weiss.

As these cases moved forward, the government offered Mr. All charges and the prospect of serving years in prison would be dropped if he pleaded guilty to one count of making a false statement during his SEC investigative testimony. Sameuli testified for two days under a court ordered grant of immunity – the government refused the immunity request, apparently to keep him off the witness stand.

Of course, the deal bolstered the government’s case against the others by seemingly precluding Mr. After listening to the testimony, Judge Carney concluded that Mr.It presents a question about the propriety of these cases.The fact that DOJ prosecutors crafted a plea deal with no factual predicate in violation of the Mr.A federal grand jury on Tuesday indicted the former general counsel of Mc Afee on fraud charges related to alleged stock options backdating. Security software specialist Mc Afee was known as Network Associates for several years.Kent Roberts, 50, of Dallas, is accused of "granting himself and others valuable in-the-money stock options while hiding the true nature and value of the stock option grants from Network Associates, its board, its shareholders, its auditors, the public and the SEC," according to a press release from the U. Attorney's Office in San Francisco, which is bringing the charges. Roberts' alleged backdating took place in 20, prosecutors said.Dozens of companies face either internal probes or inquries from the Securities and Exchange Commission and U.