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new cool best high technology gadgets gift fry%27s%20electronics%20logo.JPGAny geek living in California and Arizona knows Fry’s Electronics: everything electronics-related you could ever hope to buy, abysmal to decent customer service, and the bag checkers at the door.

It’s the last bit that makes this story so ironic: according to the Associated Press, a Fry’s Electronics vice president was arrested by the IRS on charges that he embezzled more than $65 million from the retailer to fuel his lavish lifestyle and pay off debts, most of them to the owners of the Venetian casino in Las Vegas. It’s worth noting that the VP has yet to be formally charged in the case, although the IRS says they will do so.

The VP allegedly charged suppliers more than the products were worth, then set up a shell company to accept kickbacks. Seventy wire transfers totaling $65.6 million came from five Fry’s suppliers, the AP reported. Those suppliers were not named.

Guess they should have asked for his receipt.


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