Fraud Suspects Pay Bond With Diamonds, Rubies

Jowhar Soultanali and his son, Kabir Kassam are accused in a $33 million scheme that included bribing school officials with strip club visits and other benefits

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Two education company executives facing fraud and bribery charges paid for their freedom, in part, with diamonds and rubies on Wednesday.

Jowhar Soultanali and his 34-year-old son, Kabir Kassam were recently accused in a $33 million fraud scheme. The U.S. attorney's office in Chicago said that included bribing school officials with strip club visits and other benefits.

The men agreed Wednesday to turn over property worth $500,000 to pay their bond. That included diamond and ruby rings, as well three luxury vehicles, the Chicago Sun-Times reported.

The 58-year-old Soultanali and Kassam have pleaded not guilty to the charges. Their companies are Niles-based Brilliance Academy Inc., and Babbage Net School Inc.

Prosecutors said they paid bribes to education officials in Texas and New Mexico. Those officials have also been charged.

Copyright AP - Associated Press
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