MORNING LINE: Fry’s executive’s casino conection becomes clearer

  Fry’s Electronics, Inc. executive Ausaf Umar Siddiqui is accused by the IRS of defrauding the company out of $65 million,  but it’s already evident he diverted a lot more than that to pay his gambling debts at Las Vegas casinos. He set up a straw corporation to receive kickbacks from other companies and sent millions to a subsidiary of Las Vegas Sands Inc.

  Quoting  Miguel Bustillo’s story in The Wall Street Journal: "An IRS review of the Wells Fargo bank account linked to PC International found that $167 million was deposited in the account during the past three years, suggesting that the alleged fraud may be larger than the $65 million prosecutors described."

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