
Another capitalist crook bites the dust, now if we only had the guts to go after the bankers.
"One company, Phoebe Micro Inc., sold Fry's $80 million worth of goods between 2003 and 2008. The firm gave Fry's a $4 million discount, the IRS said, but paid Siddiqui's company $24 million."
If the $76m worth of merchandise can be further discounted $24m then by my reckoning Fry's can discount the product (this one anyway - others maybe more maybe less) another 30% and maintain margin. Should be a class action suit to force Fry's to rebate their customers who suffered economic loss due to this fraud? Apparently it failed to provide sufficient oversight to their management employee - among other things this is what Sarbanes-Oxley was created to do.
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