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Cisco accountant hackers sent to jail

Stock fraud scheme tied to insiders

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A pair of former Cisco beancounters have been sent to prison for 34 months after they were found guilty of hacking into the network giant's computers as part of a $8 million fraud scheme.

Geoffrey Osowski, 30, and Wilson Tang, 35, were also ordered by US District Court Judge Ronald M. Whyte to pay the balance between the $7.8 million in stolen stock and the $5 million in luxury items seized by police, Newsbystes reports.

Tang and Osowski cracked into the computer systems used to manage Cisco's stock option distributions, forging records which ed to the deposit of more than 275,000 shares into brokerage accounts they controlled. They admitted their guilt by pleading guilty to a number of computer and securities fraud charges. ®

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