Universal Companies, founded by music legend Kenny Gamble, had earned public trust as a community-focused non-profit dedicated to affordable housing and education initiatives. However, behind the scenes, Rahim Islam and Shahied Dawan were siphoning funds for personal gain.
The executives’ elaborate scheme of concealed income and false tax filings was a brazen betrayal of both taxpayers and the organization’s mission.
According to the government, Islam devised and participated in a scheme to defraud and obtain money and property of at least $491,000, from Universal Companies. He stole significant sums of money from Universal, even while the company was losing significant amounts of money due to the failed charter school expansion in Milwaukee.
The thefts included unapproved bonuses of $280,000 for Islam and at least $211,000 in fraudulent expense reimbursements to him. The consequences of the criminal actions are far-reaching.
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