Damn UPSet, why are you coming down on this guy so hard? Should have left that dickery ahss-pounding to PMs man.
Paper, I would have a well thought out explanation for what happened. Three or more does raise some eyebrows but if it was all long ago in the past and you have a clean trend line & stellar grades from your recent degree to show I wouldn't imagine it would be a deal breaker. Any other black marks and you will probably find yourself fighting an uphill battle.