News Karnataka
Saturday, August 13 2022
Technology

CEO of 19 firms charged, sold fake Cisco devices worth $1 bn

CEO of 19 firms charged sold fake Cisco devices worth 1 bn
Photo Credit : IANS

Washington: A US court has charged a man that ran 19 companies and at least 15 Amazon storefronts, 10 eBay storefronts and multiple other entities that sold fraudulent and counterfeit Cisco networking devices worth $1 billion.

A federal grand jury in the District of New Jersey charged Onur Aksoy, aka Ron Aksoy, aka Dave Durden, 38, of Miami with running a massive operation over many years to traffic in fraudulent and counterfeit Cisco networking equipment with an estimated retail value of over $1 billion.

He imported tens of thousands of fake Cisco devices from China and Hong Kong and resold them to customers in the US and overseas, falsely representing the products as new and genuine, the US Department of Justice said in a statement late on Friday.

The operation allegedly generated over $100 million in revenue, and Aksoy received millions of dollars for his personal gain.

According to the indictment, the devices were typically older, lower-model products, some of which had been sold or discarded, which Chinese counterfeiters then modified to appear to be genuine versions of new, enhanced, and more expensive Cisco devices.

The Chinese counterfeiters added pirated Cisco software and unauthorized, low-quality, or unreliable components, including components to circumvent technological measures added by Cisco to the software to check for software license compliance and to authenticate the hardware.

Finally, to make the devices appear new, genuine, high-quality, and factory-sealed by Cisco, the Chinese counterfeiters allegedly added counterfeited Cisco labels, stickers, boxes, documentation, packaging, and other materials, the Justice Department said.

Aksoy is charged with one count of conspiracy to traffic in counterfeit goods and to commit mail and wire fraud; three counts of mail fraud; four counts of wire fraud; and three counts of trafficking in counterfeit goods.

Read more:

US court temporarily halts Biden’s vax mandate for companies

Promote shady crypto investment and you can be held liable: US court

US court upholds stay on Biden’s vax mandate

Fired Tesla workers seek emergency protection from US court

US court dismisses Pakistan’s plea in Reko Diq case

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published.

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

Subscribe Newsletter

Get latest news karnataka updates on your email.

To get the latest news on WhatsApp