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Articles about Gilbert Fiorentino

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Former Systemax bigwig Carl Fiorentino to fight bribery allegations

Former Systemax director Carl Fiorentino has pleaded not guilty to federal charges that he pocketed millions of dollars in backhanders in return for directing trade towards specific PC component makers. Fiorentino appeared in the Eastern District Court of New York on Monday to face allegations made last month that he made more …
Paul Kunert, 10 Jul 2013
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Former Systemax exec faces second probe by Feds

Former Systemax exec Carl Fiorentino, the man currently contesting charges of fraud related to his work at his former company, is the subject of a second federal probe, according to a recent US court filing. This second probe was mentioned by his legal team at Pinera-Vazquez Law Firm in its petition to move the venue of the …
Paul Kunert, 31 Oct 2013

Ex-Systemax veep cuffed, charged with $230m fraud

Carl Fiorentino, a former president at reseller Systemax, has been charged with accepting bribes worth millions of dollars in return for directing $230m worth of business to certain components suppliers. He was arrested yesterday and released on a $1m personal surety bond. If the name sounds familiar, that's because it is: his …
Paul Kunert, 19 Jun 2013
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SEC bars ex-Systemax veep from director role in fraud deal

The SEC has barred former Systemax veep Gilbert Fiorentino from being a director of a PLC again after finding he "fraudulently" pocketed hundreds of thousands of dollars in compensation over five years. The disgraced exec, who had been CEO of the reseller's Technology Products Group, was put on administrative leave in April 2011 …
Paul Kunert, 18 Sep 2012
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Sprosty leaps from Systemax TPG hot seat after 18 months

Systemax has confirmed that David Sprosty, CEO of its Technology Products Group, has left after less than 18 months in the hot seat. Sprosty was made CEO at the unit in October 2011 replacing disgraced former exec Gilbert Fiorentino, who the SEC latterly barred from ever serving again as a corporate officer or director in a …
Paul Kunert, 15 Feb 2013
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Systemax fills hole left by shamed US boss

Systemax has hired former Best Buy exec David Sprosty as the CEO of its Technology Products division in North America, finally filling the role that was vacated by shamed exec Gilbert Fiorentino earlier in the year. The responsibilities were assumed on a short-term basis by Systemax vice-chairman Robert Leeds after long-serving …
Paul Kunert, 04 Oct 2011
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Feds investigate $17m of missing kit at CompUSA

The FBI have taken charge of investigations into the reported theft of $17m (£10.4m) worth of electronics allegedly stolen from Systemax-owned CompUSA by two brothers of fired exec Gilbert Fiorentino and other former employees. Only last month, the SEC confirmed it was looking into matters surrounding the departure of Fiorentino …
Paul Kunert, 22 Jul 2011
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SEC investigates disgraced Systemax exec

The SEC has launched an investigation into the reasons behind the departure of shamed Systemax exec Gilbert Fiorentino, the company has confirmed. CEO of the technology product group, Fiorentino was suspended from the US reseller - parent of Misco and WStore - in April after an independent probe into whistleblower allegations …
Paul Kunert, 28 Jun 2011
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Systemax sales grow and profits too

Systemax's investigation into whistleblower allegations against former exec Gilbert Fiorentino added $7m to its Q2 pre-tax profits but the consumer slowdown dented sales growth. The parent of US retailers Tiger Direct and CompUSA and reselllers Misco and WStore in Europe, has reported profits of $15.5m, up 64 per cent on the …
Paul Kunert, 04 Aug 2011
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Systemax blows £250k on ex-CEO legal probe bills

Rising biz sales fuelled Systemax's third quarter even though the consumer spending freeze showed no signs of thawing. The parent of the Tiger Direct, CompUSA, Misco and WStore recorded a 4 per cent rise in turnover for the period ended 30 September, raking in $901m (£562.5m). The firm's operating income climbed 58 per cent to $ …
Paul Kunert, 02 Nov 2011

Red-soaked Systemax kills Euro jobs and US PC factory

US giant Systemax is shuttering its PC factory and axing the CompUSA and Circuit City brands. The reseller, which also runs Misco.co.uk, signalled it will cut its workforce in Europe after ploughing into the red in Q3 2012. The New York-listed biz delayed reporting its latest financial results on Monday as Hurricane Sandy …
Paul Kunert, 02 Nov 2012
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Systemax suffers sales shrinkage in Q4

Systemax's sales growth engine ran out of steam in calendar Q4 with a resurgent B2B division unable to offset double digit declines in consumer operations. The US parent of the WStore and Misco reseller brands filed numbers late last night with revenues dipping 3 per cent to $978m (£613.6m), but operating profit edged up 3.7 per …
Paul Kunert, 29 Feb 2012
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Systemax saves CompUSA from knacker's yard

Systemax is buying the CompUSA brand name, its ecommerce operations and up to 16 stores in the great CompUSA close-out sale. The big US computer reseller hails CompUSA as a "strong complementary" business to its own retail TigerDirect brand and is paying up to $30m for its new baby, depending on how many stores it actually buys …
Drew Cullen, 06 Jan 2008