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.