Of course, that's disputed. I tend to believe it, however, because the sources which relate the story also add the Nicolas was put in jail for it until he apologized for letting his zeal overcome him. It's not the sort of detail that fabricated accounts would be likely to include, but it's certainly what would have happened had Nicolas gotten a little slappy with Arius.

Didn't he drop bags of money down the chimneys of poor people? According to Catholic theology, Saint Nicholas as a saint can also bestow gifts via prayer, i.e. "prayers of a righteous man availeth much." So one could argue the essentials of Santa Claus are true in Saint Nicholas, and parents are not lying when they tell their kid that Santa Claus exists.