Two brothers found guilty of defrauding Systemax have been ordered to pay more than $35m (£25m) in restitution to the global reseller giant, according to a report by NBC Florida.
Carl and Gilbert Fiorentino, who were once high-flying Systemax executives, were both jailed last March for accepting millions of dollars and kickbacks from suppliers.
A Miami federal judge yesterday ordered the duo to stump up $35m to their former employer because of the fraud, the report said.
Older brother Carl – who was formerly president of Systemax subsidiary TigerDirect – was handed a six-year jail term. Gilbert, formerly CEO of Systemax's Technology Product Group, was sent down for five years.
The duo cost Systemax about $27m in higher supply costs, with Carl alone reported to have bagged at least $9.5m in kickbacks from Taiwanese supplier RICI International, according to reports.
Following the sentencing last year, both brothers made brief statements, with Gilbert saying he had been proud of his achievements at Systemax.
"I think that pride turned into arrogance and greed. I know I broke the rules and I broke the law," he added.
Carl Fiorentino said: "I can only blame myself. A bigger house and everything else did not make me a happy person."
CRN is awaiting comment from Systemax.
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