Cisco VP Of Biz Dev Charged In Fraud Scheme

from the thinking-outside-the-box dept

It's the business cliche these days to tell your employees to "think outside the box". Well, that's what a VP of Business Development at Cisco claims he was doing while he was actually robbing the company blind. In a somewhat elaborate scheme using shell corporations and questionable side investments in startups who thought they were working with Cisco, this guy diverted a lot of money into his own bank accounts. It's also interesting that in their rush to take money from Cisco, the startup used in this mess didn't bother to check the details and realize that the "venture capital" firm they were taking money from was the home address of the VP himself.

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