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I read/skimmed through most of that...pretty bland. Just stated the findings. Sounds like he's F'ed though, they recovered all kinds of evidence and promissory notes from his office that outlined where money was going and who was providing and such.
I read/skimmed through most of that...pretty bland. Just stated the findings. Sounds like he's F'ed though, they recovered all kinds of evidence and promissory notes from his office that outlined where money was going and who was providing and such.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-68654-100x100.png\")
correct me if i'm wrong, but isn't this exactly how the insurance industry is structured in the u.s.? this complaint looks very similar to the one made by spitzer in the case against aig a few years back.
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Wow, sounds like Fry's will cease dealing with a couple of their larger customers in the next day or so... Firms like ECS and BTC were overcharging up to 35% on the stuff they sold to Fry's. OUCH.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-492077-100x100.png\")
that just blows my mind. all those brands are their cheapest sale products. somehow frys musta been eating a loss on those products if they were being overcharged.
else the real cost of those parts is mindblowingly low. when on sale those wifi cards and routers are like 10-20 dollars. not much room left to cut.
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@scoobydoo: I am not sure how much lower in price those two brands could go. Those are our basement brands that have a high return rate. For the price though, it's worth taking a risk.
@gatewaytoheaven: Looks like Airlink101 was also involved (via \"Phoebe Micro\"). If they too were charging 35% too much, imagine how cheap that stuff could actually go for!
All in all I'm pretty pissed off. I've purchased quite a lot of the stuff from companies involved. Yes, I got a decent deal, but apparently Mr Siddiqui made quite a decent amount off me too :(
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-186777-100x100.png\")
Criminal mastermind? No.
Not that I would commit this kind of crime, but you can bet if I did I would NEVER
a) Print any hard copy of any financial transaction.
b) Bring said hard copy anywhere near my corporate office.
c) Leave said hard copy ON MY DESK IN PLAIN VIEW while I left the office FOR ANY REASON WHATSOEVER. INCLUDING DEATH OR SCARLETT JOHANSEN.
I like the \"Trash run\" section (p 24/26). The thought of feds routing through trash makes me smile for some reason.
\"the general marketing agreement above identified \"PC International's\" place of business as 800 East Charleston Rd, Palo Alto, CA. This address has been confirmed to be SIDDIQUI'S residence through surveillance, a search of SIDDIQUI'S personnel records, a search of SIDDIQUI'S bank records, and through a country records search.\"
reminds me of:
\"I can't believe what a bunch of nerds we are. We're looking up \"money laundering\" in a dictionary.\"
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Can I have his job? I don't steal and I'm good at cleaning up messes.
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Their book keeper must suck if s/he can't account for 65 million dollars.
The book keeper at the company I work for freaked out when he couldn't find $1.45 in his double ledger. He was there for 10 hours looking for it in his books and through all the invoices.
Turns out a credit got back dated and it screwed up his end of month accounting.
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I can see this having a \"catastrophic\" effect for his peers at Fry's home office. Most of the people there that are in a position to buy merchandise for the company are used to accepting \"samples\" - I'd hate to see their garages get searched by higher-ups. Most of them have something to hide.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-246513-100x100.png\")
Biggest tidbit - this guy didn't use a shredder or try to cover his tracks at all.
@hamsangwich:
Not surprising... he got busted because someone walked into his office and found the kickback worksheets spread out all over his desk while he was out.
You'd think with connections to Fry's, he could have afforded a low-tech lock.