Billionaire Broadcom (BCOM) Founder Indicted For Drugging Customers and "Warehousing" Ecstasy, Meth, and Cocaine. And Stock-Option Backdating
A founder of the Broadcom Corporation, Henry T. Nicholas III, was indicted Thursday on fraud, conspiracy and drug charges — including accusations that he spiked the drinks of colleagues and customers with ecstasy and maintained a warehouse for ecstasy, cocaine and methamphetamine. In addition, he is accused of running a stock options backdating scheme.
The charges were contained in two indictments unsealed by federal authorities.
One details the drug accusations and the other accuses Mr. Nicholas of improper accounting in the backdating stock options while he led the company, a computer and cellphone chip maker.
That indictment also names Broadcom’s former chief financial officer, William J. Ruehle, who faces conspiracy, securities fraud and other charges. He is not charged with drug violations.
Thom Mrozek, spokesman for the United States Attorney’s office, said Mr. Nicholas was in custody after turning himself in to FBI agents in Santa Ana.
Henry is No. 258 on Forbes' billionaire list.
Photo: Forbes
HEALTH / FITNESS
JANUARY 4, 2006
Broadcom co-founder Henry Nicholas is known for challenging himself and those around him to achieve peak performances whether in business, sport or philanthropy. One of my favorite stories regarding Nicholas has him challenging the UC Irvine crew team to a pull-up contest. If a crew member could do more pull-ups than Nicholas, then he would make a sizeable donation to the team.
The strongest athlete on the team easily did 15 pull-ups. The crew members were feeling pretty good at this point. How could it be possible, they thought, for a fortysomething chief executive – technology chief executive, at that – to do more pull-ups than a well-trained college athlete? Nicholas cranked out about 25 pull-ups, much to the amazement of the UCI crew. Although he won the contest, Nicholas still made a donation to the team.
Which brings me to the point of this story. Most people can't do pull-ups – or if they can, very few of them. The reason is simple, say fitness experts. Most people can't do pull-ups because they don't work at it. Nicholas, being the fitness adherent and goal-oriented person that he is, worked at it. As pull-ups are a great exercise for back, arms and shoulders, fitness experts say that more people should incorporate the exercise into their fitness routines.
http://www.ocmetro.com/NEW_SITE/metro010407/fitness.php
http://biz.yahoo.com/ap/080606/broadcom_indictment.html
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