In this episode of Busted, Michael Thomas and Drew Howell examine the scheme of former Fry’s Electronics Vice President of Merchandising, Ausaf Umar “Omar” Siddiqui, and the elaborate way he was able to steal $65 million from the corporation. Through the influence of his executive-level position, Siddiqui was able to pull off an operational arrangement disguised as a cost-eliminating and profit-maximizing plan to the corporation.
You can also find, and subscribe, to this podcast on all major podcast platforms including iTunes, Stitcher, Spotify, and Google Play.
Disclaimer
This podcast is provided for general informational purposes only and is intended as a general overview. The podcast does not constitute legal advice nor solicitation to provide legal services. It is not meant to convey a legal position of Foley & Lardner, LLP (“Foley” or the “Firm”) on behalf of any client, nor is it intended to convey specific legal advice. Any opinions expressed in this podcast do not necessarily reflect the views of the Firm, its partners, or its clients. The podcast is not intended to create, and listening to the podcast does not constitute an attorney-client relationship. The listener should not act upon this information without seeking counsel from a licensed attorney. Foley makes no representations or warranties of any kind, express or implied, as to the content of the podcast or to its accuracy or completeness and accepts no responsibility for an individual who acts or refrains from acting based on information obtained from the podcast. In some jurisdictions, the contents of this podcasts may be considered Attorney Advertising. If applicable, please note that prior results do not guarantee a similar outcome.
Speaker(s)
Related Insights
10 January 2025
Foley Ignite
The Outlook for US Private Equity in 2025
As we launch into the next quarter century, there is much speculation about what the future holds for private equity (PE) as an asset class and driver in dealmaking.
08 January 2025
Foley Viewpoints
SEC Enforcement Action – Failure to File Forms D
On December 20, 2024, the U.S. Securities and Exchange Commission (SEC) announced that it settled charges issued against one registered investment adviser and two private companies for failing to file Forms D in connection with unregistered securities offerings.
08 January 2025
Manufacturing Industry Advisor
What Every Multinational Company Should Know About … Managing Import Risks Under the New Trump Administration (Part I): Identifying Risks and Opportunities
The expected focus on tariffs and supply chain issues by the Trump administration presents significant risks for frequent importers.