Broadcom CEO
Reports say Henry Nicholas, a Broadcom Corp. (Nasdaq: BRCM – message board) founder and former CEO, surrendered to government realtors today following making indicted on grievances connected to inventory opportunities backdating and, separately, drug use.
Documents unsealed today reveal this a grand jury indicted Nicholas for fraud and conspiracy in October. The Los Angeles things claims Nicholas was set to attain a court occurrence currently afternoon.
The !no! sensational part of the story comes for a terse 18-page indictment documenting Nicholas’s assumed drug use based on 1999 to 2005. (Nicholas left Broadcom in 2003, citing deep custom and family issues.)
It describes the majority of instances of Nicholas attaining MDMA (Ecstasy) for several parties and events, combined with Woodstock ’99 and a Super Bowl. Later, the allegations branch out to insert cocaine, methamphetamines, and prescription drugs and also Valium.
Nicholas is accused of distributing drugs at a large number of houses and at an office-warehouse space he’d leased out. He’s in addition accused of lacing customers’ drinks without this knowledge and of hiring a Broadcom employee $1 million to stay quiet close to There are those of the goings-on. Prostitutes, of course, merit a brief mention.
Nicholas’s lifestyle has continued the subject of speculation from the time a lawsuit endure year accused him of producing an underground sex-and-drugs lair at his palatial home. (See Henry Nicholas, Party Animal?)
The inventory choices indictment is longer, at 65 pages, and chronicles particular instances of stated backdating of 1999 to 2002. Former CFO William J. Ruehle is furthermore named as a defendant in who indictment.
Broadcom has had to compete provided an continuous Securities and Exchange Commission (SEC) exploring during supply options. The SEC has put forward bills against thre executives combined with Nicholas. The two who got continue to provided Broadcom — CEO Henry Samueli and entire counsel David Dull — took leaves of absence of this posts as a result. (See Options Scandal Deepens at Broadcom.)