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Suddenly, stock options are the least of his problems
July 19, 2007
6:00 PM -- First day back from vacation, it's always good trolling the news gone by. Bookham got a CEO, check. Yipes got acquired, interesting. Google bought another company, yawn.
And then, from yesterday's L.A. Times, comes this:
Billionaire sought secret lair for sex, drugs, complaint says
Flush with wealth from Broadcom Corp.'s 1998 public stock offering, computer chip magnate Henry T. Nicholas III made a few additions to his equestrian estate in Laguna Hills: hidden doors and secret levers, an underground grotto, tunnels and a 2,000-square-foot sports bar he called "Nick's Cafe."
But there was more, according to a claim made in court documents: plans for a "secret and convenient lair" with hidden entries for Nicholas to indulge his "manic obsession with prostitutes" and "addiction to cocaine and Ecstasy."
You'll recall Nicholas left Broadcom in 2003 for what he said were personal issues related to his marriage and family. Building a secret underground lair for sex and drugs -- yeah, that might count as issues. The report isn't clear on the timing, but apparently Nicholas's wife discovered the lair by accident while it was in use -- another helpful nudge on the way to divorce.
Nicholas, by the way, denies everything and points out to the L.A. Times that he's been "recognized by authorities for his efforts to boost law enforcement."
On the plus side for Broadcom, this takes everyone's minds off of stock options.
— Craig Matsumoto, West Coast Editor, Light Reading
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