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Cisco A Victim Of Massive Fraud |
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Written by Adam Gosling
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Thursday, 01 March 2007 |
A 53 year old Massachusetts man has been arrested for allegedly defrauding Cisco Systems of millions of dollars worth of networking equipment.
It is alleged that over the past three and a half years the man
contacted Cisco using numerous false identities and fraudulently
arranged for Cisco to send him replacement parts. It is said he then
sold the parts and spent the money on fast cars. True.
He didn't return the allegedly broken parts, or where he did the parts
were worthless and not actually covered by Cisco's SMARTnet program.
The SMARTnet program includes a fast hardware replacement system where
customers get the equipment immediately to enable their networks to
keep running rather than having to return the parts prior to getting
the replacement.
Michael A. Daly allegedly used false identities in 39 states to obtain
networking equipment at least 700 times. Each time he netted parts
worth anywhere from US$995 to US$25,000. Cisco says its losses run into
millions of dollars.
Daly faces a potential jail term of 20 years in prison.
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