Cisco Equipment at Heart of £9M Alleged Scam
Co-ordinated raids by police on either side of the Atlantic have resulted in the capture of two Russians suspected of operating a warranty scam using Cisco equipment.More here.
The two Russians, a man aged 46 and a woman aged 23, were questioned by police, said the Daily Telegraph. The suspected fraud was said to be worth £9 million.
The raids were on a company called Com-wealth and involved over 30 police officers, including several computer specialists.
The alleged scam involved using Cisco's warranties to receive replacement parts for supposedly faulty ones. Those faulty ones were never returned and both parts were sold on auction websites or on the 'grey' resale market.
posted by Fergie @ 7/14/2006 10:18:00 AM
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