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DoJ Alleges Cisco Reseller Made $37 Million Selling Counterfeit Equipment

Posted by Unknown on from the cisco-routers-and-name-brand-sunglass-shop dept.

netbuzz writes "The latest scam involving stolen and/or fake Cisco equipment may also be one of the largest, as the Department of Justice says a 43-year-old San Jose-based reseller accumulated $37 million in ill-gotten gains over a period of years that he then poured into real estate and luxury cars. The feds say the guy also used part of the loot to set up college funds for his four children. At least four other such scams have been perpetrated against Cisco in recent years."

4 of 74 comments (clear)

  1. Re:Scams against Cisco? by Anonymous Coward · · Score: 4, Informative

    So, if everyone else in this thread is done guessing or waxing idiotic, I'd like to point out that, per TFA, he was buying not just counterfeit equipment, but actual stolen Cisco goods from Cisco employees.

  2. Re:College Funds? by bmo · · Score: 4, Insightful

    Do you need to earn "Crime pays" kind of money to fund college funds for 4 children in America?

    Yes. It's why there is a TRILLION dollars in student debt.

    How much do Americans borrow/have borrowed for college?

    There is roughly somewhere between $902 billion and $1 trillion in total outstanding student loan debt in the United States today. The Federal Reserve Bank of New York reports $902B while the Consumer Finance Protection Bureau reports $1T.

    http://www.asa.org/policy/resources/stats/

    --
    BMO

  3. Most fake Cisco gear is real... by Kenja · · Score: 4, Informative

    Most of the "fake" Cisco hardware I've seen is the real stuff that failed a quality check and was rejected by Cisco. The manufacturers overseas tend to just sell these rejects out the backdoor rather then destroy them.

    --

    "Have you ever thought about just turning off the TV, sitting down with your kids, and hitting them?"
  4. Re:The moral of the story is... by ShanghaiBill · · Score: 4, Insightful

    Intel engineer here. We get the same shit. Everyone thinks we fill the chips with back doors when we don't.

    As a low level engineer, why do you assume that you would know about the back doors?