The stock-option backdating scandal has claimed another scalp as Henry Samueli, co-founder, chairman and CTO of Broadcom steps down, following a complaint from the US Securities and Exchange Commission (SEC). Samueli's co-founder, Henry Nicholas, is also cited.

'This egregious misconduct resulted in the largest accounting restatement to date arising from stock option backdating and warrants the significant sanctions sought from these individuals,' said an SEC official.

The SEC is asking for an order de-barring them from holding office in a public company and requiring them to hand back bonuses and profits from stock sales.

Apparently the back-dating led to a falsified re-statement of Broadcom's financials in January 2007 which included an extra $2bn of additional compensation expenses.

Now, both of the 'Two Henrys', Henry Nicholas and Henry Samueli, who co-founded Broadcom have gone. Nicholas left in 2003 after his lifestyle became erratic, and he is currently in a Betty Ford clinic for treatment for alcohol abuse.

Both Henrys are multi-billionaires. They founded Broadcom in 1991 when both of them were in their thirties. Nicholas is now 48 and Samueli 53.

The stock option back-dating scandal has claimed many scalps over the last couple of years but none so august as Samueli's, although Apple's Steve Jobs has been investigated by the SEC for the alleged offence.

So far the SEC has settled cases with eight companies and 30 individuals, and has prosecuted 18 executives half of whom have pleaded guilty.

See also: Mannerisms, the blog of David Manners. Updated twice daily, it's the distinctive, entertaining, authoritative and never dull commentary on the semiconductor industry, from someone who knows. Sign up for the Mannerisms eNewsletter.