Who would have knew... by Claudia Sonea

I always thought money makes people go crazy and apparently I wasn’t wrong. Have your herd about. co-founder Henry T. Nicholas III? Everyone knows his a billionaire who founded the chip maker Broadcom Corp. together with Henry Samueli, but few knew anything about his private life beyond the position of President and Chief Executive officer of the company from 1991 until 2003. On Thursday U.S. Attorney Thomas P. O'Brien brought into the public attention the sort of business he was doing. There were unsealed indictments accusing him among others of drug possession, purchase, abuse, conspiracy and fraud related to the backdated stock options during his presidency of computer chip company. According to the spokesman for US attorney, Nicholas turned himself to the FBI, but the defendant’s attorney Brendan Sullivan Jr refused to comment. The indictment is as thick as 18 pages and the allegations were possession and distribution of cocaine, methamphetamine and ecstasy, using four properties in Orange County and Las Vegas and a warehouse in Laguna Niguel as headquarters for the operations. For this charges, including that of hiring of prostitutes and escorts, he could get a maximum of 20 years. However, there are other charges more serious that could bring him 340 years of imprisonment. It is about the stock backdating scheme that made in January 2007 for the company to write down $2.2 billion. By mistaken the cost, the company’s income was inflated. This issue is somehow ambiguous as backdating stock options is legal. Both Nicholas and Broadcom's former chief financial officer, William J. Ruehle, who was also accused in the backdating case, could find a way of escaping it. Nicholas has been exposed as a person who money succeeded to change and not for the best. Not even taken into account the fraud and charges related with the company, we can see an example of misuse of what God gave him: drug parties in airplanes, mansions, prostitution and orgies. His wife needs all the strength in the world in order to face all the secrets exposed. We are here for you!

related story: http://news.yahoo.com/s/ap/20080605/ap_on_hi_te/broadcom_indictment;_ylt=AmCsHYrXP4bRWK9UhXY9PHus0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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Posted by: Jana Kalicka