Jasper was found guilty on eight out of 11 counts, including fraud and lying to auditors, according to The Recorder. He was cleared on three, including making false proxy statements.
In 2007, the Securities and Exchange Commission charged Jasper with making false financial reports by improperly backdating stock option grants for Maxim employees and directors. Maxim CEO Jack Gifford settled with the SEC for $800,000 at the time. The semiconductor company wasn’t fined and no criminal charges were brought.
At trial, Jasper’s attorney argued that Gifford, who has since died, was to blame for the backdating and not Jasper, the news report said. Jasper invoked his Fifth Amendment right and did not take the stand.
Jasper’s punishment could include fines, disgorgement, and a bar on serving as a corporate officer.
Last week, the SEC won its backdating case against the former CEO of KB Home (see Ex-CEO of KB Home Convicted on Charges Related to Options Backdating), and in March, it won a conviction against the former CEO of Brocade Communications (see Former Brocade CEO Found Guilty in Options Backdating Suit Retrial).
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