Corrupt channel pair ordered to pay $35m compo

Channel PeopleLegal
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The Fiorentino brothers were convicted last year

Two jailed US channel fraudsters have been ordered to pay $35 million in restitution to their former firm Systemax.

The South Florida brothers were convicted of the kickback frauds last spring, after it was found they made millions of dollars by overpaying for parts from a firm in Taiwan.

crime-victim-684x250 crime fraud cybercrimeA Miami federal judge has ordered Carl and Gilbert Fiorentino to pay the money to Port Washington, New York-based Systemax Inc.

Their actions are said to have led the company to overpay an estimated $27 million for computer parts, cables and other equipment.

Prosecutors said the pair spent the loot on waterfront mansions, flash cars, yachts and fine furniture.

The Fiorentinos originally founded the TigerDirect company, which was later bought by Systemax. Systemax owns Misco UK.

@AntonySavvas