Las Vegas Gambling Debts The Cause Of Fry's Employee Arrest

While casinos and gambling can be used for a variety of good things in a community, the gambling can also have a negative effect once in a while. In the case of Ausaf Umar Siddiqui, gambling was a problem.

Siddiqui built his way all the way up to the top of Fry's Electronics, a powerful national retailer. He has been charged with running a scheme to scam Fry's out of millions of dollars.

The reason for the scam, according to prosecutors, was Siddiqui's bad gambling habit. He has spent over $160 million in two years at two of the biggest casinos in Las Vegas. MGM Grand and Las Vegas Sands were the beneficiary of Siddiqui's gambling problem.

Siddiqui will not have to stay in jail while he awaits a trial, but there were restrictions put on his bond. One of the restrictions was an electronic bracelet. The other? "I know you do a great deal of travel to Las Vegas. That's not allowed anymore. Nevada is off limits," said U.S. District Court Judge Richard Seeborg.

The prosecutors described in detail a plan by Siddiqui to convince Fry's to do away with the sales representatives on his accounts. He would then be the connection between clients and Fry's. When that was accomplished, he began making backdoor deals with his clients, ensuring himself plenty of cash for his trips to Vegas.

December 23, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
Submit News!