- 27 -
K & M for 1995, but Ahmed failed to produce much of the
information requested in the IDRs.
Due to Ahmed’s failure to fully comply with the IDRs,
respondent’s agent served approximately 70 administrative
summonses on K & M’s suppliers, banks, and customers.
At the first meeting between respondent’s agent and Ahmed,
Ahmed falsely informed respondent’s agent that the pharmacies did
not have cash sales and that all of the sales proceeds of K & M
were deposited into K & M bank accounts. When respondent’s agent
confronted Ahmed with evidence of cash sales, Ahmed changed his
story and admitted that the pharmacies had cash sales.
Ahmed told respondent’s agent that he had made personal
loans to K & M, but when respondent’s agent asked Ahmed for
documentation relating to the loans Ahmed told the agent that
loan documentation did not exist. Later, in December of 1997,
Ahmed produced purported loan documentation relating to the
alleged loans.
Ahmed denied having an ownership interest in CSM, CK, and
CL, and in the medical clinics operated under those names. Ahmed
told respondent’s agent that during the years at issue CSM, CK,
CL, and the clinics were owned by Elkholy or later by Leslie.
Ahmed represented that he acted only as a manager of the clinics
on behalf of Elkholy and Leslie.
Page: Previous 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 NextLast modified: May 25, 2011