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Billionaire on trial, charges involve weed, ecstasy, meth, coke, hookers...

By lulz, Jun 6, 2008 | | |
  1. lulz
    This dude should be a role model for billionaires everywhere.

    http://www.timesonline.co.uk/tol/news/world/us_and_americas/article4080034.ece

    That "secret party lair" in his mansion, that the article mentioned, was some kind of club that he secretly built in his basement. It was hidden and you could only get into it using hidden doors and secret switches.

    Hells yes.

Comments

  1. Heretic.Ape.
    What can I say, I like the no-good bastard ;)
  2. radiometer
    Oh yeah, gotta love someone who drugs employees without their knowledge or consent. :confused:
  3. lulz
    Yeah if that's true, not cool. But there's probably more to the story.
  4. radiometer
    Maybe I'm weird. I think this guy sounds like Larry Ellison on drugs - a total asshole with no regard for anything but himself. Maybe you have to live in Silicon Valley to know just how disgustingly self-centered and out of touch with reality these types are.

    Given that the company had to restate earnings to the tune of billions of dollars, let's not forget that his drugs were likely paid for by ripping people off, especially employees whose stock options crumbled to dust in front of their very eyes.
  5. lulz
    Larry Ellison sounds kind of surreal.

    "What's the difference between God and Larry Elison?

    God doesn't think he's Larry Elison."
  6. Joe Duffy
    Didn’t this guy give away a lot of money to charities?
  7. zera
    Backdating doesn't rip off employees. Backdating refers to the practice of lying about the date when you are granted options. So for example say the stock is at $50 at the end of quarter one, and you were really granted the option at the end of quarter two when the stock is at $70. Say the option has a strike of $100 (so the employee has the right to buy the stock at $100 at some future date) If you disclose that options were granted in the earlier period then it makes it seem like a "cheaper" cost of doing business because the stock has further to rise before the option's in the money.

    The practice was really pervasive throughout pretty much every tech company during the boom, there's irrefutable evidence that Steve Jobs did it too. If anything the employees benefit because the options they have vested are probably being backdated too. Its the shareholders that get screwed over. But the fact that this guy is being prosecuted while every other major tech executive isn't demonstrates to me that there's some political agenda at play here.
  8. AquafinaOrbit
    -
    -OP

    Haha.
  9. radiometer
    Thanks for clarifying that.
  10. Expat98
    Broadcom founder allegedly shown taking illegal drugs on YouTube

    June 9, 2008

    Here’s a no-win situation for an attorney: What do you do when a your client, the founder and former CEO of a billion-dollar public company, is supposedly being shown on YouTube using illegal drugs?

    According to a motion filed by federal prosecutors on Thursday, the quandary arose last summer when such videos were posted of Henry T. Nicholas, III, the co-founder and former CEO of Broadcom (BRCM), the high-profile, fabless semiconductor company based in Irvine, California.

    (Last Thursday Nicholas pleaded not guilty to two federal indictments, one charging options backdating and the other conspiracy to distribute drugs, including MDMA (ecstacy), methamphetamine, and cocaine.)

    In August 2007 Nicholas attorney Susan Szabo of Munger Tolles & Olson wrote e-mails and faxes to YouTube and parent Google (GOOG) demanding they take down a video of Nicholas, which, she said, invaded his privacy.

    A YouTube support rep e-mailed Szabo back explaining that the company couldn’t process a privacy complaint “based on what a video ‘purports’ to portray,” so he invited her to confirm that the video really did show her client in a private setting without his consent.

    Szabo complied: “I can confirm that the video portrays my client and that the video was taken surreptitiously in his bedroom, without his knowledge and consent, and that any distribution of the video is without his consent.”

    Now, in a motion asking that Nicholas be detained pending his trial on the two indictments, the government cites the video - which, it claims, shows Nicholas using drugs at a time when he knew the government was investigating him and when he was publicly denying drug use to the media - as tending to show that Nicholas presents a risk to the community and a flight risk. Prosecutors write: “There can be no doubt it was defendant in the video as his attorneys sent an e-mail and letter to YouTube confirming that the person in the video using drugs is, in fact, defendant.” (The judge ultimately ordered certain “home detention” measures for Nicholas.)

    An e-mail to attorney Szabo was not immediately returned. Nicholas’s criminal defense attorney, Brendan Sullivan, wrote: “I adhere to a policy that I should not discuss matters in litigation.”

    The government’s 18-page detention motion, with 100 pages of appended exhibits, also levels a variety of other unflattering accusations beyond those already contained in the indictments. During a June 2007 flight on one of his private jets, for instance, Nicholas allegedly accused a “longtime friend, personal attorney, and employee” of wearing a “wire”; threatened to “chase him to the ends of the earth” if the friend “screwed” him; and then struck the friend in the face, causing him to fall to the ground.

    The papers also allege that in November 2007 Nicholas, while driving with his son, crashed his black Lamborghini into a lamp post while returning from a Shake Shack. He switched cars with a security staffer in his convoy and then left the scene while the staffer waited for the police and took the rap. Through an attorney, Nicholas later admitted to local police that he’d been driving the Lamborghini, but claimed that the security staffer had suggested Nicholas drive home for “security reasons,” and that Nicholas had never intended that the staffer take responsibility for the crash. (The staffer, according to prosecutors, has refused to testify about the incident notwithstanding an immunity order, and is currently incarcerated on contempt charges.)

    Nicholas stepped down as Broadcom’s CEO and co-chairman in 2003, explaining in a statement that he wanted “to attend to serious family matters.”


    http://legalpad.blogs.fortune.cnn.c...egedly-shown-taking-illegal-drugs-on-youtube/
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