Magazine article Business Credit

"Bustout Auction" Returns Product to Creditors

Magazine article Business Credit

"Bustout Auction" Returns Product to Creditors

Article excerpt

IN MAY, 1998, AGENTS FROM THE CHULA VISTA POLICE Department supervised a "bustout auction" and returned approximately $500,000 in merchandise recovered from Mirage Sportswear located in Chula Vista, CA and Sleek Fashion located in Brawley, CA. Working in conjunction with law enforcement, NACM was able to notify its members of the seizure and many of the members were able to recover their merchandise.

In late 1997, NACM's Loss Prevention Department issued early warning press releases on Mirage Sportswear (RN97239) and Sleek Fashions (RN97216 and RN97297). Creditors reported that by early 1998, both firms closed owing numerous unpaid debts. NACM referred this information to law enforcement, and on March 25, 1998, Omar Salem Sughayar, 20 and Yubran Youssef Sahalam, 27, both of Orange, CA were arrested for their roles in the two bustouts which bilked creditors out of approximately $1.5 million.

A press release issued by the Chula Vista Police Department reported that the two operators, Sughayar and Sahalam were charged with California Fraud and Receiving Stolen Property violations. …

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