Feeds

Cisco accountant hackers sent to jail

Stock fraud scheme tied to insiders

  • alert
  • submit to reddit

SANS - Survey on application security programs

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. ®

High performance access to file storage

More from The Register

next story
Obama allows NSA to exploit 0-days: report
If the spooks say they need it, they get it
Samsung Galaxy S5 fingerprint scanner hacked in just 4 DAYS
Sammy's newbie cooked slower than iPhone, also costs more to build
Putin tells Snowden: Russia conducts no US-style mass surveillance
Gov't is too broke for that, Russian prez says
Snowden-inspired crypto-email service Lavaboom launches
German service pays tribute to Lavabit
Mounties always get their man: Heartbleed 'hacker', 19, CUFFED
Canadian teen accused of raiding tax computers using OpenSSL bug
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
Call of Duty 'fragged using OpenSSL's Heartbleed exploit'
So it begins ... or maybe not, says one analyst
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.