By Graham Hayday, 31 July 2002 08:40
NEWS A former Cisco executive has admitted before a US district judge that he siphoned off about $50m of Cisco-owned stock and company funds into personal accounts he ran in the Bahamas. Forty-three year old Robert Gordon pleaded guilty to two counts of wire fraud and one count of insider trading. He could face up to 20 years in prison when he is sentenced on 29 October, but as part of a plea bargain he is more likely to face between five and nine years inside. Gordon had worked for Cisco for five years and became a vice president of business development. He had been free on bail awaiting trial, and attempted suicide earlier this year. He is now under federal custody in a psychiatric ward in California.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below