Prosecutors unsealed indictments against former Broadcom CEO Henry T. Nicholas III and CFO William J. Ruehle on charges of stock options backdating, along with allegations that Nicholas spiked the drinks of technology executives with ecstasy and organized a lavish drug party at a warehouse.
Nicholas allegedly hid the stock options backdating by signing false documents. The Securities and Exchange Commission filed charges against Nicholas, Ruehle and two other Broadcom executives last month (see SEC Charges Former Broadcom Officials). The company agreed to pay a $12 million settlement with the SEC in April to settle the backdating charges (see Broadcom to Pay $12M Settlement to SEC).
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