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Ausaf Umar Siddiqui
Ausaf Umar Siddiqui (born 1966) also known as Omar Siddiqui, is a Pakistani-American former corporate executive who was a vice president of Fry's Electronics. He is known to have gambled over $162 million in Las Vegas from 2005 to 2008 after embezzling money from his employer through money-laundering and wire fraud. He pled guilty and declared bankruptcy in 2011 after remaining listed as $137 million in debt. Business background Siddiqui was hired by Fry's Electronics in 1988. Omar was promoted to vice president of the company. He received an annual salary of $225,000. Siddiqui negotiated with suppliers to pay higher prices in exchange for kickbacks which amounted to as much as 31%. He set up a shell company PC International, which hid the $65.6 million in kickbacks. Gambling Siddiqui reportedly wire transferred $70.4 million to The Venetian between 2005 and 2008. He was known by casino employees as a "blackjack machine", according to one casino industry veteran "you couldn’t dea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fry's Electronics
Fry's Electronics was an American big-box store chain. While operating, it was headquartered in San Jose, California in Silicon Valley. Fry's retailed software, consumer electronics, household appliances, cosmetics, tools, toys, accessories, magazines, technical books, snack foods, electronic components and computer hardware. Fry's had in-store computer repair and custom computer building services. Fry's began with one store in Sunnyvale, California and expanded to 34 stores in nine states at its peak in 2019. On February 24, 2021, Fry's announced the immediate and permanent closure of all of its stores. A statement posted on its website cited "changes in the retail industry and the challenges posed by the COVID-19 pandemic". History In 1972, Charles Fry sold the Fry's Supermarkets chain based in California for US$14 million to Dillons. He gave a portion of the proceeds, around $1 million, to each of his sons, John (who had worked as the IT manager for the supermark ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Las Vegas
Las Vegas (; Spanish language, Spanish for "The Meadows"), often known simply as Vegas, is the List of United States cities by population, 25th-most populous city in the United States, the most populous city in the U.S. state, state of Nevada, and the county seat of Clark County, Nevada, Clark County. The city anchors the Las Vegas Valley metropolitan area and is the largest city within the greater Mojave Desert. Las Vegas is an internationally renowned major resort town, resort city, known primarily for its gambling, shopping, fine dining, entertainment, and nightlife. The Las Vegas Valley as a whole serves as the leading financial, commercial, and cultural center for Nevada. The city bills itself as The Entertainment Capital of the World, and is famous for its luxurious and extremely large casino-hotels together with their associated activities. It is a top three destination in the United States for business conventions and a global leader in the hospitality industry, clai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Embezzling
Embezzlement is a crime that consists of withholding assets for the purpose of conversion of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes. Embezzlement is a type of financial fraud. For example, a lawyer might embezzle funds from the trust accounts of their clients; a financial advisor might embezzle the funds of investors; and a husband or a wife might embezzle funds from a bank account jointly held with the spouse. The term "embezzlement" is often used in informal speech to mean theft of money, usually from an organization or company such as an employer. Embezzlement is usually a premeditated crime, performed methodically, with precautions that conceal the criminal conversion of the property, which occurs without the knowledge or consent of the affected person. Often it involves the trusted individual embezzling only a small proportion of the total of the funds or resources they receive or cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Vice President
A vice president, also director in British English, is an officer in government or business who is below the president (chief executive officer) in rank. It can also refer to executive vice presidents, signifying that the vice president is on the executive branch of the government, university or company. The name comes from the Latin term ''vice'' meaning "in place of" and typically serves as ''pro tempore'' (Latin: ’for the time being’) to the president. In some countries, the vice president is called the ''deputy president''. In everyday speech, the abbreviation ''VP'' is used. In government In government, a vice president is a person whose primary responsibility is to act in place of the president on the event of the president's death, resignation or incapacity. Vice presidents are either elected jointly with the president as their running mate, or more rarely, appointed independently after the president's election. Most governments with vice presidents have one perso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kickback (bribery)
A kickback is a form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered. Generally speaking, the remuneration (money, goods, or services handed over) is negotiated ahead of time. The kickback varies from other kinds of bribes in that there is implied collusion between agents of the two parties, rather than one party extorting the bribe from the other.Wrage, Alexandra Addison. ''Bribery and Extortion: Undermining Business, Governments, and Security.'' Westport, Conn.: Praeger Security International, 2007. p. 14. The purpose of the kickback is usually to encourage the other party to cooperate in the scheme.Kranacher, Riley, and Wells, p. 387. The term "kickback" comes from colloquial English language, and describes the way a recipient of illegal gain "kicks back" a portion of it to another person for that person's assistance in obtaining it.Campos, p. 299. Types and methods The most common form of kickback involves a vendor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dom Perignon
Dom or DOM may refer to: People and fictional characters * Dom (given name), including fictional characters * Dom (surname) * Dom La Nena (born 1989), stage name of Brazilian-born cellist, singer and songwriter Dominique Pinto * Dom people, an ethnic group in the Middle East * Domba or Dom, an ethnic group in India * Doms, people of indigenous origin found in the Indian state of West Bengal Arts and entertainment * ''Dom'' (film), a 1958 Polish film * ''DOM'' (album), a 2012 album by German singer Joachim Witt * DOM (band), a band from Worcester, Massachusetts, US Linguistics * Differential object marking, a linguistic phenomenon * Dom language, spoken in Papua New Guinea Places * Dom (mountain), Switzerland, the third highest mountain in the Alps * Overseas department, (''Département d'outre-mer''), a department of France that is outside metropolitan France * Dóm Square, a large town square in Szeged, Hungary * Dominican Republic (ISO 3166-1 country code) * Douglas–Charles ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
