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.99 Sir Thomas More: You threaten like a dockside bully. Sir Thomas: Like a minister of state, with justice. Left-wing journalists today have many incentives to launch rich-hunts against nationally prominent businessmen, regardless of guilt: such frenzies bring journalists raises, praises, prizes, and book contracts.
What the media says about this fellow’s behavior seems extremely reprehensible, and he surely would not have been indicted unless there was very good evidence for the illegality of those actions.”Unfortunately, as I have learned during the past seven years, such a view is completely false when it comes to the prosecution of corporate executives.
Federal prosecutors charged that he had in fact been involved in the process.
The investigations cost companies hundreds of thousands of dollars to defend, and resulted in the firing of several high-level executives. As a result, journalism today is populated by innumerable muckrakers, and the Justice Department by hundreds of “dockside bullies.”Bill Ruehle’s bad luck was to discover this first-hand. Ruehle was the chief financial officer (CFO) of Broadcom Communications, an Internet company founded in 1991 by “a quiet electronics engineering professor from UCLA (Henry Samueli) and his not-so-quiet student (Henry Nicholas).” Broadcom first turned a profit in 1994: revenues were .6 million. Ruehle, You Are a Free Man —A Broadcom Saga: My Fight for Justice. Likewise, cynical government prosecutors have many incentives to pursue media-defamed businessmen, also regardless of guilt: convictions bring prosecutors journalistic adulation, departmental promotions, lavish private-firm job offers, and even political power.However, the sentencing was postponed and on September 8, 2008, Judge Carney rejected the terms of the plea agreement.The judge ruled that it “would erode the public’s perception of our justice system to accept a plea agreement containing an unprecedented payment of million to resolve the criminal liability of one of four co-conspirators in an alleged .2 billion securities fraud.”Since the plea bargain was rejected by Judge Carney, Samueli could have withdrawn his guilty plea and gone to trial – or negotiated a new plea bargain. During the defense presentation of evidence, Carney granted a defense motion to grant immunity to Samueli, who was then called to testify on behalf of Ruehle.