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October 6, 2008 10:01:48 AM CDT

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Ex-Broadcom Boss Charged With Drugging Exec Drinks

Posted Jun 6, 08 5:27 AM CDT in Business,  Crime & Courts 

(Newser) – Broadcom's co-founder has been indicted on an astounding spate of federal fraud and narcotics charges, the Wall Street Journal reports. Henry Nicholas III is accused of using and distributing drugs over a seven-year period while directing a criminal stock options-backdating conspiracy that cost the firm billions. Prosecutors claim he secretly spiked the drinks of technology executives and customers with Ecstacy.

The charges also describe a warehouse packed with drugs allegedly used by Nicholas for wild parties with customers of the California chip-maker. Marijuana smoke on board the former CEO's private jet was so thick during one trip that the pilot needed an oxygen mask, according to court documents. The drug charges carry a maximum 20-year sentence, while the fraud charges could rack up  340 years in prison for the billionaire.

Source Wall Street Journal

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In this Nov. 9, 2004 file photo, Henry Nicholas, billionaire co-founder of chip maker Broadcom, gestures during an interview with the Associated Press.   (AP Photo/Damian Dovarganes, File)
Henry Nicholas, billionaire co-founder of chip maker Broadcom, seen here in a 2004 file photo, has been indicted of federal drug and fraud charges.   (AP Photo/Damian Dovarganes )
Broadcom co-found Henry Nicholas III, seen here in a 2004 file photo, could face a centuries-long sentence if found guilty on all the federal charges.   (Getty Images)
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CEO  • drug abuse  • federal indictment  • stock option backdating  • stock options  • Broadcom  • drugging  • backdating scandal


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