Boots to plead guilty
by James Mirtle on Jan 29, 2009 9:57 PM CST
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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.
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.
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Add Boots to list of other owners who’ve been investigated or convicted during the Bettman era (NYI – Spano, BUF – Rigas, NJ – Kozlowski, SJ – Reyes, ANA – Samueli, Melnyk – OTT). Forgot to mention Balsillie who was tried and convicted by Bettman himself for trying to move the Predators to a viable hockey market. If I remember correctly, I believe the charge was treason.
http://puckreport.blogspot.com
MG
by puckreport on Jan 30, 2009 10:55 AM CST reply actions 0 recs
Well, Balsillie is accused of (and has effectively admitted) a lot more than that, having paid monies in respect of backdating options – the exact same offense as Samueli. Also, he is trying to negotiate a fine that is reported to be as much as $100 million.
Was Kozlowski an owner? If so, it must have been a very small slice.
by Gerald on Jan 30, 2009 11:08 AM CST up reply actions 0 recs
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