Broadcom CEO indicted

briantwin

SANTA ANA/LOS ANGELES (Reuters) - Broadcom Corp's former CEO took cocaine and spiked customers' drinks with ecstasy while also directing a criminal stock-options backdating conspiracy that cost the microchip company $2.2 billion, federal indictments released on Thursday charged.

Former chief executive and company co-founder Henry Nicholas III also hired prostitutes for himself and others and then used payoffs or threatened violence to keep the conduct secret, one federal indictment alleges.

The charges come on top of a broader probe into one of the biggest stock-option backdating scandals among many that rocked corporate America when they started surfacing two years ago.

Failing to properly account for the valuable back-dated options from 1999 to 2005, Nicholas and other executives kept secret costs that could have dragged down high-flying stock prices, the government argues. Attorneys argued the parties with drugs and prostitutes were intended to win business.

http://www.reuters.com/article/topNews/idUSN0538382320080606?feedType=RSS&feedName=topNews

Jesus you'd think he'd be happy enough with all his billions. Christ almighty...

Sherifu

I hope they give him his 1 phone call.

godtabh

Who cares?

suspectdevice

i'd say the guy that arrived home and said "hi honey, i'm home, just had a lovely meal and a few beers with nicholas, we have agreed to give broadcom the contract" is fu'cking planking himself