The nearly year-long story of fraud, deception and betrayal by Silicon Valley investor William "Boots" Del Biaggio III will enter its final chapter next week when the 41-year-old accused of financing his opulent homes, jetting-setting gambling trips and pro hockey indulgences on the backs of his friends and business associates pleads guilty next week.

Del Biaggio, part of a respected San Jose banking family, will enter a guilty plea in federal court Wednesday, according to a letter sent to his victims from the U.S. Attorney's Office, which also said authorities may present a plea agreement at that time.

— San Jose Mercury News

Del Biaggio is facing as much as 25 years in prison, but likely won't serve nearly that long as a result of this plea agreement.

In the above article, one of Boots's victims has this quote on the situation: "He's ruined lots of lives." That's something I'm sure we'll hear more about in the days to come.

Another sad story in tough economic times.

The Toronto Star had more on Tuesday about the bankruptcy proceedings involved here, and this tidbit from Wild owner Craig Leipold's lawyer made me chuckle: "Rosenbloom added Leipold only wants his $10 million back and has no interest in owning any share of the Predators."

No kidding.