Former Sharks Co-Owner Cops to Fraud - NBC Bay Area

Former Sharks Co-Owner Cops to Fraud



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    Barry Bonds wasn't the only Bay Area sports figure squirming uncomfortably in a San Francisco District Court this week.

    William "Boots" Del Biaggio, once co-owner of the San Jose Sharks, pled guilty to charges of securities fraud involving over $100 million. If you can't trust a guy named "Boots", who can you trust?

    What Del Biaggio lacked in honesty, he more than made up for in creativity points.

    His scheme to forge and alter brokerage account statements, essentially making other people's money appear to be his own, netted him a cool $100 million in loans.

    With it, he bought a stake in the Nashville Predators and kept his kneecaps intact by servicing his massive gambling debts.

    With yet another megabucks fraud scheme coming to light, there's no question the economy and job market will continue to suffer.

    But if this week has taught us anything, it's that there's always plenty of workdown at the U.S District Court house in San Francisco.

    Joe Kukura is a freelance writer who is in on two counts of fraud and racketeering.