The backstory: Valley bad boy Sean Parker, forgotten founder of Napster, Plaxo and Facebook, is the subject of rumors which get more lurid with every retelling. In particular: the circumstances of Parker's removal in 2004 from Plaxo, the online address book backed by Mike Moritz of Sequoia Capital, which was particularly abrupt and mysterious. Valleywag asks the burning question, about the drugs, after the jump.

Valleywag: So, what's all this about the arrest? Look, I couldn't care less about a coke offense. I was thinking a light tease about you carrying in North Carolina, of all places. You know, pander to prejudice about rednecks, etc.

Sean Parker: I will say, for the record: I was at no point apprehended "carrying" cocaine (or with cocaine in my possession/vehicle), indicted of any crimes related to cocaine, nor convicted of any crimes related to cocaine. There is, however, a mistake...or shall we say a misunderstanding (of the highest order) which underlies this particular pernicious rumor...Apart from clarifying the hard facts of the situation (as I have done) I would prefer not to delve into the specific circumstances as they would implicate others who have an expectation of privacy.

Background on Sean Parker