Inside the Best Buy Swindle
The couple being investigated for profiting from a bid-rigging scheme involving Best Buy allegedly stole $31 million from the retail giant, which they used to build a multi-million dollar home and buy a fleet of 11 cars that including a Ferrari and Lamborghini. That's according to a Chicago Tribune report on the case, which cited federal court documents.
The couple, Russell and Abby Cole, ran the Deefield, Ill.-based vendor The Chip Factory, until Best Buy busted the scheme last year. The Coles have not been charged with any crime- and their lawyer denied wrongdoing to the newspaper- but a Best Buy employee who participated in the alleged fraud pled guilty last year to his part in the scheme, and agreed to cooperate. The alleged scam, which ran for several years, was the subject of an investigation by the FBI, IRS and U.S. Postal Service.
Officials say the Best Buy employee, Robert Paul Bossany, accepted bribes in exchange for "smoothing over" questions raised about discrepancies in paperwork. The Coles' cars were seized last year, and the government has placed a lien on their home.