Siddiqui files for bankruptcy



    SAN JOSE -- A former South Bay executive has filed for bankruptcy. Ex-Fry's Electronics executive Omar Siddiqui, listed nearly $137 million worth of debt when he filed for Chapter 7 bankruptcy in San Jose on July 13.

      According to his bankruptcy filing, he owes about $20 million to Las Vegas casinos and also has debts at casinos in Connecticut and Britain although the amounts there are listed as unknown. The filing also says Siddiqui owes money to at least five Fry's vendors.

    The bankruptcy follows an indictment, in which Siddiqui was charged with nine felony counts of wire fraud and money laundering totaling $6 million for a kickback embezzlement scheme against Fry's in 2008. He has pleaded not guilty.

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