Broadcom co-founder Henry Samueli has apologized for lying to the Securities and Exchange Commission during its probe of stock options backdating at the chip maker.

Samueli's two-page written apology, filed Monday with US District Judge Cormac Carney, stands as the first public comment on the case by the billionaire philanthropist and owner of the NHL's Anaheim Ducks.

Samueli is scheduled for sentencing on September 8 on a felony count of lying to the regulatory agency.

Prosecutors have recommended that Samueli get five years probation and pay at least $12 million in penalties, but Carney must sign off on the deal.

Samueli wrote that his first instinct was to fight the case because he didn't want to have a felony on his record. Then, he said, he talked with family and friends and decided to own up to his wrongdoing.

"I have spent days and nights thinking about why I said what I did in front of the SEC on May 25, 2007," he wrote. "My statement before the SEC was completely out of character for me. I have tried to live my life in a way that showed that hard work and honesty were their own reward."

The plea agreement is part of a larger federal criminal probe into stock-options backdating at Broadcom, which was ultimately forced to write down $2.2 billion in profits _ the largest accounting restatement to date because of illegal backdating.

The company also agreed in April to pay $12 million to settle similar charges without admitting or denying the allegations.

Source:AP News