Jimmy Kang Portola HS 10th Grade
Broadcom is one of the biggest companies that has branches in Irvine. Their new campus was sold to FivePoint Communities right after completion, and Broadcom leased at least 64% of the space back for 20 years. Broadcom has wide-reaching influence in the Irvine community, as more than 2,000 workers are employed in the Irvine campus. However, one of the major figures associated with the company has recently taken a dark turn.
Henry Nicholas III was the former CEO of Broadcom, stepping down in 2003, stating that he wanted to work on his marriage. Since then, in 2009, he was arrested for securities fraud and illegal distribution for a total of 25 felonies. However, a judge dismissed the stocks fraud charges in 2009, and the drug charges in 2010.
On Tuesday, August 7, 2018, he was arrested in Las Vegas on suspicion of drug trafficking, as police found contraband in his casino room. He and his girlfriend were arrested, then released on their own recognizance.
This wasn’t the first time Nicholas was in legal conflict, however. He reportedly spent ＄30 million to build an underground complex under his Laguna Hills home. The construction contractor sued Nicholas, stating that he failed to adequately pay the workers. In addition, Nicholas was also accused of pressuring and intimidating the workers to get the project done faster, including death threats. In addition to this, Nicholas’s former assistant Kenji Kato sued Nicholas in 2006, claiming about ＄150,000 in unpaid wages. Kato also accused Nicholas of forcing him to sign confidentiality agreements in involvements with illegal activities involving drugs and prostitutes.
Henry Nicholas has been accused numerous times of underpayment. However, this isn’t the only thing that he was consistently accused of by several parties. The contractors that sued for the ＄30 million underground complex project also stated that Nicholas had an obsession with prostitution, and an addiction to cocaine and ecstasy. Nicholas allegedly built the underground complex for the purpose of fulfilling these addictions in peace.
However, the former Broadcom CEO isn’t all bad. As he gets older, he’s spending more and more money on philanthropy. The Nicholas Academic Center provides tutoring and mentoring services in the Santa Ana school district. With a total of ＄60 million in grants and scholarships, Nicholas focuses on giving students in poor conditions a chance to thrive in life. He states, “That college degree unleashes them.” He believes that he can change lives through education, and his spending on philanthropy reflects that.
When he was working on his master’s degree in UCLA, his little sister was shot and killed by her ex-boyfriend. A few days after the funeral, he and his mother ran into the murderer in a grocery store. Angered at the fact that he was already out on bail, they founded Justice for Homicide Victims. This organization focused on increasing victims’ rights. In 2008, through his efforts, Marsy’s Law was passed, giving increased rights to victims of crime. This law was named after his sister.
Henry Nicholas, while not perfect in numerous ways, still focuses on making the changes he believes matter. He knew volunteering to step down from the CEO position was the best thing for the company. Broadcom still affects Irvine in a positive way, filling high-level employment for the growing population.
<Jimmy Kang Portola HS 10th Grade