Fry’s Electronics Exec Hit With $65M Fraud Charge

Law360 (December 29, 2008, 12:00 AM EST) -- Federal officials have accused a Fry’s Electronics Inc. merchandising executive of defrauding the electronics superstore chain out of at least $65 million in kickbacks from vendors that he used to pad his personal checking account and pay gambling debts.

U.S. Attorney Thomas Moore filed a criminal complaint against Ausaf Umar Siddiqui on Dec. 18 in the U.S. District Court for the Northern District of California in cooperation with the Internal Revenue Service’s Criminal Investigation Unit.

According to the complaint, Siddiqui, worked his way up to the...
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