Multi-Industry Chief Compliance and Ethics Officers

search criteria = ALL
Multi-Industry Chief Compliance and Ethi...
 
  Former Verizon Engineer Gets 4-Year Jail Sentence for Decade-Long FraudOct 05, 2012 6:00 PMSCCE Social Media Manager
 

Former Verizon Engineer Gets 4-Year Jail Sentence for Decade-Long...
From: SCCE Social Media Manager
To: Multi-Industry Chief Compliance and Ethics Officers
Posted: Oct 05, 2012 6:00 PM
Subject: Former Verizon Engineer Gets 4-Year Jail Sentence for Decade-Long Fraud
Message:

Information Week

The FBI announced Wednesday that Michael W. Baxter, 62, of Ball Ground, Ga., has received a four-year jail sentence and been ordered to pay $2.8 million in restitution--$2.3 million to Cisco Systems and $463,000 to Verizon Wireless--after he pleaded guilty to charges that he profited from selling an estimated $4.5 million in stolen networking equipment, according to the Department of Justice.

"To accomplish his fraud, this defendant exploited ... Cisco's program for replacing expensive equipment on a moment's notice," said U.S. attorney Sally Quillian Yates in a statement. "He also abused his insider access to Verizon's procurement system."

Hired in 1994, Baxter worked as a network engineer at the southeastern regional headquarters of Verizon Wireless. According to Department of Justice prosecutors, from as early as 2001--and lasting until 2010, when he was fired--Baxter regularly submitted fraudulent requests to Cisco Systems. Verizon's extended warranty contract with Cisco required the networking equipment manufacturer to repair parts or replace them in advance of their failing, and Cisco provides customers, including Verizon, with an online service request and parts replacement system that can be used by authorized employees to order new parts.

More: http://www.informationweek.com/security/management/how-not-to-be-a-millionaire-resell-stole/240008540


-------------------------------------------
Thank you,

Eric Newman, Esq., CCEP
Social Media Manager
HCCA/SCCE
eric.newman@corporatecompliance.org
(952) 405-7938
-------------------------------------------
Be the first person to recommend this.