Illinois Couple Convicted Of Bilking Best Buy For $41 Million

We’ve written a lot over the years of consumers’ displeasure with Best Buy and Geek Squad. But here’s a story about a couple from Illinois who actually screwed over the chain of retail stores… by overcharging for $41 million worth of computer parts.

Between 2003 and 2007, a couple from Illinois operated a company called Chip Factory, which sold millions of dollars worth of computer parts to Best Buy. According to prosecutors, Chip Factory would win the business by submitting low bids, which would be all fine and dandy if they hadn’t have followed up with invoices that were substantially higher than the agreed upon prices.

The pair were convicted in a Minnesota court. Among other charges, the husband was found guilty of 12 counts of mail fraud and the wife was convicted of one count of conspiracy to commit mail fraud and wire fraud. They both face up to 20 years in prison.

When the couple was first arrested, authorities seized, a Ferrari, a Lamborghini convertible and nine other luxury vehicles worth about $2.8 million.

Deerfield couple guilty of overcharging Best Buy by $41 million [Chicago Tribune]