One of your friends that has a lot of money, girls, and prestige but lacks cable television at his apartment. This friend can be found at your apartment watching your TV therefore dubbing himself a "lard lad".
Kyle: Yo dog we are gonna pick up a bag quick at lard lad's house, this kid is loaded but he ain't got cable!!
Eric: No cable? Damn I know that kid he's got everything except cable TV.
Kyle: I know, its whack