SAN FRANCISCO — Federal authorities accused William Del Biaggio III, 41, a former Silicon Valley venture capitalist and part owner of the Nashville Predators hockey team, of defrauding investors and using the money to buy his $25 million stake in the professional sports team.
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Rick E. Martin/San Jose Mercury News, via Associated Press
William Del Biaggio III in 2002; he is charged with falsifying documents.
The Securities and Exchange Commission said in a complaint filed in Federal District Court here that Mr. Del Biaggio, who is known as Boots, also used the money to pay off gambling debts and maintain a lavish lifestyle and luxury home in San Jose, Calif.
Mr. Del Biaggio faces a civil injunctive action of securities fraud by the S.E.C. Federal prosecutors filed a single criminal charge of falsifying documents to obtain $100 million in loans.
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