Saturday, January 17, 2009

Update On Fry's Electronics Fraud Case: Siddiqui Pleads Not Guilty

Ausaf Umar Siddiqui, who has been charged in connection with a $65 million fraud scheme while vice president of merchandising at Fry's Electronics in California, pleaded not guilty on Thursday. He has been charged with five counts of wire fraud and four counts of money laundering for embezzling funds and receiving kickbacks by allegedly created a phony company, PC International LLC to receive vendor payments.

Read FraudTalk's prior stories on this case here and here.

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