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Standing accused of two separate federal cases involving drug distribution and securities fraud, ex-Broadcom Corp. head and current billionaire Henry T. Nicholas III entered pleas of ‘not guilty,’ while William J. Ruehle, Broadcom’s former CFO, also pleaded not guilty today in the securities case. Federal narcotics charges allege Nicholas III slipped ecstasy into drinks of business associates, and both men stand accused of securities fraud through stock-option backdating. If convicted on all charges, Nicholas could face a 340+ year prison sentence – yikes! Broadcom makes microchips for cell phones and broadband internet devices.
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