[ale] Fry's.. in techdirt

[Paul Cartwright]

just saw this..

On Tue December 23 2008, Techdirt Daily wrote:
http://www.techdirt.com/articles/20081222/1620473198.shtml
> Fry's Exec Funnelled $65 Million To Himself For Gambling Debts (Scams)
>  by Michael Masnick from the want-to-know-why-Fry's-is-expensive? dept on
> Monday, December 22nd, 2008 @ 6:04PM Silicon Valley folks certainly know
> Fry's -- the electronics superstore that's probably as well known for its
> poor customer service as its vast selection. However, apparently a top exec
> at the company, who had worked his way up over the course of 20 years from
> a starting job as a floor sales guy has now been arrested for a massive
> fraud, creating kickbacks from vendors and potentially defrauding the
> company of over $65 million -- much of it used to pay off gambling debts
> (apparently he still owes a lot more -- potentially another $100 million
> from the sound of it) incurred by frequently taking the Fry's corporate jet
> to Vegas. The guy basically set up a separate front company that he
> funneled millions of dollars to in the form of exorbitant commissions and
> kickbacks from vendors. Apparently, while Fry's makes you go to hell and
> back to justify returning a computer component, its own internal auditing
> process missed $65 million going out the door.



-- 
Paul Cartwright
Registered Linux user # 367800
Registered Ubuntu User #12459