{"id":20013,"date":"2013-06-20T12:43:54","date_gmt":"2013-06-20T17:43:54","guid":{"rendered":"http:\/\/techcitement.com\/?p=20013"},"modified":"2013-06-20T12:43:54","modified_gmt":"2013-06-20T17:43:54","slug":"former-tigerdirect-president-charged-with-fraud","status":"publish","type":"post","link":"https:\/\/techcitement.com\/hardware\/former-tigerdirect-president-charged-with-fraud\/","title":{"rendered":"Former TigerDirect President Charged With Fraud"},"content":{"rendered":"<p>Former President of <a title=\"TigerDirect\" href=\"http:\/\/www.tigerdirect.com\/\">TigerDirect<\/a> (and parent company Systemax, Inc.) Carl Fiorentino finds himself accused of mail fraud, wire fraud, and money laundering for redirecting $230 million to manufacturers and suppliers who paid him kickbacks or bribes. Prosecutors claim Fiorentino was responsible for the company&#8217;s purchasing decisions but rather than going with the low bidder, he made choices for his own self-interest, allowing him to purchase his $8 million home in Coral Gables, Florida.<\/p>\n<div id=\"attachment_20019\" style=\"width: 238px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/techcitement.comhardware\/former-tigerdirect-president-charged-with-fraud\/attachment\/fiorentino\/\" rel=\"attachment wp-att-20019\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-20019\" class=\"size-full wp-image-20019 \" alt=\"Carl Fiorentino\" src=\"https:\/\/techcitement.comadmin\/wp-content\/uploads\/2013\/06\/fiorentino.jpg\" width=\"228\" height=\"208\" \/><\/a><p id=\"caption-attachment-20019\" class=\"wp-caption-text\">Carl Fiorentino<\/p><\/div>\n<p>According to an indictment filed June 6 and unsealed Tuesday, Fiorentino entered an illegal agreement in 2003 with the owner of a Taiwanese company ordering TigerDirect to purchase the Taiwanese company&#8217;s computer components in exchange for bribes and kickbacks totaling $6.5 million over the course of the conspiracy. Between 2003 and 2007, the indictment claims he received another $570,000 from a California based firm supplying memory modules and upgrades. Prosecutors claim Fiorentino concealed the deception by filing false conflict of interest forms with Systemax.<\/p>\n<p>In a press release issued by Systemax, the company states, &#8220;The criminal indictment relates solely to the action of Fiorentino, has no impact on the Company or its management and follows the Company&#8217;s 2011 internal whistleblower investigation that resulted in the termination of, among others, Carl Fiorentino&#8217;s employment with Systemax.&#8221;<\/p>\n<p>This case has interesting parallels with the prosecution of Fry&#8217;s Electronics&#8217; Vice President, as detailed in this December, 2011 <a href=\"https:\/\/techcitement.comhardware\/former-tigerdirect-president-charged-with-fraud\/attachment\/siddiqui-sentenced\/\" rel=\"attachment wp-att-20015\">press release<\/a>.<\/p>\n<p>Perhaps now, TigerDirect really will be able to offer those low, low, slashed prices it promises in its advertising.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former President of TigerDirect (and parent company Systemax, Inc.) Carl Fiorentino finds himself accused of mail fraud, wire fraud, and money laundering for redirecting $230 million to manufacturers and suppliers who paid him kickbacks or bribes. Prosecutors claim Fiorentino was responsible for the company&#8217;s purchasing decisions but rather than going with the low bidder, he [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":7125,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[4891,4889,4890,4046,1312,1009,1311,4888,2746,2046,1325],"_links":{"self":[{"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/posts\/20013"}],"collection":[{"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/comments?post=20013"}],"version-history":[{"count":3,"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/posts\/20013\/revisions"}],"predecessor-version":[{"id":20024,"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/posts\/20013\/revisions\/20024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/media\/7125"}],"wp:attachment":[{"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/media?parent=20013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/categories?post=20013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techcitement.com\/wp-json\/wp\/v2\/tags?post=20013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}