The Securities and Exchange Commission told a federal judge the Justice Department may have been too lenient in its plea agreement with Henry Yuen, the former chief executive of Gemstar-TV Guide International Inc., Bloomberg News reported.
The SEC’s complaints, also outlined in a letter to the Los Angeles federal probation office, helped persuade U.S. District Judge John Walter to withhold approval of the plea deal earlier this month. The agreement with the U.S. attorney in L.A. calls for Yuen to spend six months in home detention for obstructing the SEC’s probe of a $248 million accounting fraud at Gemstar.
