Billionaire, friend reach plea deal in Las Vegas drug case

Tech billionaire Henry Nicholas III and friend Ashley Fargo, arrested at a Strip hotel last summer, reached an agreement with prosecutors to avoid prison time over drug charges, defense lawyers said Wednesday.

Later this month, Nicholas and Fargo are expected to enter pleas to a felony drug possession charge. They are expected to enter a type of guilty plea known as an Alford plea, which means they acknowledge only that prosecutors have enough evidence to prove the allegations to a jury.

As part of the deal, prosecutors agreed to dismiss drug trafficking charges and ultimately drop the convictions against Nicholas and Fargo should they complete 250 hours of community service and drug counseling. Nicholas and Fargo also agreed to each make $500,000 donations to an unspecified Las Vegas-area drug treatment and rehabilitation program.

Nicholas, who bankrolled a victims’ rights law that voters approved in November, and Fargo were arrested after security at the Encore called police in August 2018 to report contraband in the room. Fargo was once married to Wells Fargo heir Brian Fargo.

Security officials at the Strip hotel discovered various narcotics and recreational drugs, including heroin, methamphetamine and cocaine, inside Nicholas’ guest room after unlocking and entering the room, according to court documents.

Defense attorneys David Chesnoff and Richard Schonfeld, who represent Nicholas, and David Brown, who represents Fargo, said in a joint statement that they were pleased with the negotiation. Nicholas would continue to “champion victims’ rights,” the statement said.

“By no stretch of the imagination would anyone consider Dr. Nicholas or Ms. Fargo to be traffickers distributing drugs into the community,” the statement read. “This positive agreement allows them to help people grappling with addiction by providing substantial financial support to programs in Clark County for treatment and rehabilitation.”

According to Forbes.com, Nicholas holds a doctorate from the University of California, Los Angeles.

Contact David Ferrara at dferrara@reviewjournal.com or 702-380-1039. Follow @randompoker on Twitter.