Officials there are also concerned that at least some victims haven't cashed the checks out of worries the refunds are part of a scam.

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These are the guys who, in this case, get 1.1% of the deal to make sure that all the stock gets sold, checks cashed and that the money reaches the company and the selling stockholders.

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The accounting department, he says, claimed it never received the payments, but Vargas' bank records show the checks were cashed and stamped by Cintas.

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