Cara Ellison married Ellison Broadband CEO John Tice on Thursday, according to Cara Ellison Corp. spokesman Perry Kanaly. The two CEOs tied the knot in a private ceremony at an undisclosed location.
The marriage was a surprise to friends, who said they didn’t even realize the two were dating. “Cara and Jason Bennett split three months ago but I had no idea she had moved on to Tice,” says an Ellison insider who wishes to remain anonymous.
Some speculate that the marriage is one of convenience for both CEOs who are under indictment. Ellison is charged with 753 counts of fraud, conspiracy, blackmail, bribery, tax evasion, and insider trading. Tice is charged with 12 counts of wire fraud, conspiracy and insider trading. Both have pleaded not guilty. As a married couple, they will not be required to testify against each other at their respective trials.
Tice was appointed CEO by Cara Ellison in 2007 for the company’s new Broadband division. Tice had nearly twenty years of experience in the trading and energy industries but no experience in telecom. The appointment was criticized by some, but analysts responded well to the news. Under Tice’s management, Broadband quickly grew to become a central domain inside the Ellison empire. In July, a federal grand jury indicted Tice for hyping the division when in reality, prosecutors say, the technology did not work.
Sixty-one counts of Cara Ellison’s indictment are also related to hyping Ellison Broadband technology, particularly the Broadband Operating System and the Ellison Intelligent Network. Prosecutors say both were little more than pipe dreams.
The marriage is the first Ellison, the third for Tice.
“That’s not going to last,” said one source. “But wow, I’d love to see that pre-nup.”