5 Companies That Had A Rough Week


Owner Of Cisco Reseller Faces Fraud Charges

The owner of San Jose, Calif.-based Network Genesis, a Cisco equipment reseller, was arrested this week after allegedly selling millions in fraudulent Cisco gear and then using the money to buy real estate and luxury cars.

Cuong Cao "Calvin" Dang faces charges on multiple counts of fraud for allegedly selling "counterfeit or stolen Cisco merchandise" between January 2006 and January of this year, according to an indictment filed with the U.S. District Court of Northern California last week.

Dang allegedly bought illegal products from Cisco employees, according to the indictment, including Catalyst 6500 series switches and 7600 series routers, altered their serial numbers to make them difficult to trace, and sold them as genuine Cisco products.