Calif. Venture Capitalist Charged With $100M Fraud

Law360, New York (December 5, 2008, 12:00 AM EST) -- Federal authorities have accused a Silicon Valley venture capitalist of engaging in securities fraud to obtain tens of millions of dollars in loans to support a lavish lifestyle, pay off gambling debts and fund a $25 million stake in a professional hockey team.

William J. “Boots” Del Biaggio III has settled charges with the U.S. Securities and Exchange Commission, agreeing to comply with a civil injunction and pay civil penalties and disgorgement in an amount that the court will determine later, authorities said Thursday.

Del Biaggio,...
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