Feeds

Silicon Valley Cisco reseller charged with $37 million fraud

Staff claimed to have sold kit to fund buying spree

Secure remote control for conventional and virtual desktops

The boss of Silicon Valley Cisco reseller Network Genesis has been indicted for selling counterfeit kit and sub-price products bought by the networking company's staff.

According to the federal grand jury indictment, Cuong Cao Dang, sometimes known as Calvin Dang, bought counterfeit hardware for his San Jose reseller business and altered the external serial numbers to make it look like branded Cisco kit. He also bought Cisco products from staff at the company and used their office discount as a partial profit margin, the documents state.

According to the San Jose Mercury News the funds were used to purchase an 11-property commercial and residential portfolio in San Jose, four college funds for Dang's children, and a $100,000 Mercedes-Benz purchase and Lotus sports car.

Dang is being charged with conspiracy to commit six charges of mail fraud and money laundering. Prosecutors are asking for serious jail time and full forfeiture of the $37 million in sales revenue Network Genesis made between 2006 and 2012.

The website for Network Genesis is down, and its phone number disconnected.

"As always, Cisco will cooperate with this investigation as necessary. Beyond this we don't have any comment," a Cisco spokeswoman told El Reg. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
prev story

Whitepapers

Seattle children’s accelerates Citrix login times by 500% with cross-tier insight
Seattle Children’s is a leading research hospital with a large and growing Citrix XenDesktop deployment. See how they used ExtraHop to accelerate launch times.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Managing SSL certificates with ease
The lack of operational efficiencies and compliance pitfalls associated with poor SSL certificate management, and how the right SSL certificate management tool can help.