- 14 - On December 19, 1997, at Ahmed’s request and on Ahmed’s behalf, Saghir prepared and filed articles of incorporation for a corporation to be named Madina, Inc. (Madina), to which the pharmacies nominally were to be transferred. Darwish was identified as the sole shareholder of Madina. Ahmed then caused Saghir to prepare a series of documents reflecting, among other things, a purported transfer of ownership of the pharmacies from Ahmed to Darwish for a total stated purchase price of $170,000, to be reflected by a purported $20,000 cash downpayment from Darwish to Ahmed and by a purported $150,000 promissory note from Darwish to Ahmed. Notwithstanding the contents of the above documents and the purported sale of the pharmacies, Ahmed was the sole owner of the stock of Madina, and Ahmed retained actual control of the pharmacies. Sometime in 1997, Ahmed used funds from K & M to open a medical laboratory using the name Apex Medical Lab. The lab was located near Ahmed’s pharmacies and clinics and derived most of its business from customers and patients of Ahmed’s pharmacies and clinics. To avoid scrutiny by California State health care officials, who were already investigating the other businesses Ahmed controlled, Ahmed arranged for nominal ownership of the lab to be put into Darwish’s name.Page: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next
Last modified: May 25, 2011