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U.S. markets recover from steep losses
LOS ANGELES, April 19 (UPI) -- Broadcom Corp. co-founder Henry Nicholas III is in the Betty Ford Center where he will spend a month in an alcohol-rehabilitation program, his attorney said.
The Los Angeles Times reported Saturday Nicholas, 48, is in the midst of a nasty divorce and has been identified as "a potential unindicted co-conspirator" in a federal investigation probing the illegal backdating of Broadcom stock options.
Nicholas attorney Bill Hake said in a statement his client's treatment was prompted by the recent death of his stepfather, Robert Warnes Leach.
"The death of a beloved parent can be devastating to anyone," Hake said in a statement released this week. "For Nick it triggered a period of intense self-reflection and recognition that he has been drinking too heavily."
Federal authorities are investigating Nicholas' role in the manipulation of stock option grants at Broadcom, the Irvine, Calif.-based computer chip maker he co-founded and led until 2003.
The billionaire has denied any wrongdoing, the newspaper reported.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
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