New York - The founder and former CEO of video game publisher Take-Two Interactive on Wednesday became the first ex-CEO in the country to plead guilty to "backdating" stock options to make them more valuable to himself and company employees.

Former Take-Two CEO Ryan Brant agreed to pay $6.3 million to settle civil charges, and $1 million in penalties to resolve a criminal case against him.

"I am deeply sorry for my role in the inappropriate manner Take-Two granted incentive stock options," Brant said in a statement. "I accept responsibility for my actions, and apologize to the company's shareholders."

Brant did not admit or deny wrongdoing in the civil case, but under the settlement will no longer be allowed to hold top offices at publicly-held companies.

Over 170 companies have either launched internal investigations, or are the subjects of federal probes into the practice of backdating stock options.

Related Links:

http://tinyurl.com/34zblf (Reuters)

http://biz.yahoo.com/ap/070214/take_two_ceo.html?.v=2 (AP)

http://www.take2games.com