dictators_rule
Joined: 08 Jul 2003
Posts: 4793
|
|
Posted: Mon Jul 07, 2008 5:24 pm Post subject: Kickback Scam,some more details
|
|
|
From the following link http://www.law.com/jsp/article.jsp?id=1204544931507&rss=newswire .
Included are some of the companies/countries involved.The scam reads like a money laundering scheme.Some basics:
The Home Depot Executives:
Anthony Tesvich-Product Developement Merchant
James Robinson-Divisional Merchandising Manager:hard flooring executive
Ronald Johnston-Global Product Merchant:rugs&accessories
The Overseas Vendors:
Twaiwan:Willieco Ltd-vinyl tile
China:Chervon Ltd-power tools,Taizou Eagle Group-ceiling tile & rug pads
India:DC Mills-door mats
Turkey;Travertine Brothers-stone tile
Venezula:Americer Corp-ceramic tile
The 'front' companies formed by Tesvich;
Tyza Industries-a California real estate company
Chervon Power Tools
Willieco
Some of the probable proceeds from this endevour included a Cadillac Escalade(33,000$),Infinity SUV(53,000$),2200 sq ft basement(82,000$),Home Theater System with a 106" Projection TV(15,000$),253,000$ check,259,000 check,135$ investment account,9 properties including a resort in California and 2 properties in Tennessee,146,000$ in cash.
Also included was 4,900$ a month in 'rent' from a Twaiwanese company
One of the companies that was apparently caught red handed was the Venezualen Co-Americer Corp where an ex admitted to writing checks and depositing money.
The execs tried stuff like saying someone else owned the vehicles but parked it on their property.No exec has really plead guilty to the actual kickbacks although I think June 30,2008 Tesvich pleaded guilty to income tax evasion.
Estitmate of over 10 Million dollars in 'business" with these companies.Also noted was the HD business with these companies increased around the time of the 'transactions' with these execs.
I'm sure there's more and that more execs from HD and other companies play the same game.But that's the scary part,this scam or scheme was pretty complex.Where did these execs learn or think to do this?Were they coached?Did they see others do it?,Did the vendors ask or tell em how to do it? and often does this go on at HD and other companies?
|
|