SAN FRANCISCO (AP) -- A vice president of Fry's Electronics embezzled more than $65 million from the retailer to fuel his lavish lifestyle and pay off gambling debts, according to a criminal complaint filed by the IRS.
Ausaf Umar Siddiqui of Palo Alto is accused of cutting side deals with some Fry's suppliers, allegedly receiving kickbacks in exchange for placing larger than normal orders at higher prices.
KCBS' Matt Bigler reports
Authorities say the Ferrari-driving Siddiqui was such a heavyweight gambler that casinos chartered private planes to fly him to Las Vegas.
An IRS spokeswoman says Siddiqui is expected to be formally charged in the next few weeks.
It wasn't immediately clear whether he had a lawyer.
A Fry's spokesman did not return an after-hours call seeking comment.
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