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Investments

Mar. 29, 2011

Broadcom Co-Founder Battling the IRS

Investment funds linked to Orange County billionaire Henry T. Nicholas III are embroiled in litigation with the Internal Revenue Service over alleged tax shelters.


By Gabe Friedman


Daily Journal Staff Writer


A group of investment funds linked to Orange County billionaire Henry T. Nicholas III, co-founder of Broadcom Corp. has been quietly embroiled in litigation with the Internal Revenue Service over alleged tax shelters that could save him from paying millions of dollars in the federal government.


The two separate lawsuits, filed in Santa Ana federal court in March 2008, have flown under the radar mainl...

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