Fry's Electronics Seeks $65M From Ex-VP Over Kickbacks

Law360, New York (October 18, 2011, 8:12 PM EDT) -- Fry's Electronics Inc. on Monday filed an adversary proceeding in California bankruptcy court, saying a former merchandising executive who pled guilty to fraud and is accused of pocketing $65 million in kickbacks from vendors should not be let off the hook for that money.

In a complaint seeking a finding of nondischargeability of debt, Fry's says former Vice President of Marketing and Operations Ausaf Umar Siddiqui defrauded the company willfully and maliciously and that its claim against the debtor therefore cannot be dismissed under federal bankruptcy...
To view the full article, register now.