Osowski and Wilson Tang pleaded guilty in April 2001 to exceeding their
authorized access to the Cisco Systems
Inc. computers so that they could
illegally issue about $8 million in Cisco stock to themselves. They were
charged with violating Title 18, United States Criminal Code by committing
computer and wire fraud. Under a
plea bargain, they consented to pay back money amounting to the difference
between almost $8 million that they issued to themselves and that which the
government could recover from the sale of jewelry, an automobile, and other
The pair admitted that between October 2000 and March 2001,
they worked together to defraud Cisco Systems so that they could get Cisco
stock they were not authorized to get. In December 2000, they moved 97,750
shares of Cisco stock into two separate accounts at Merrill Lynch, with 58,250
of the shares to be deposited into an account for Osowski and 39,500 shares to
be deposited into an account for Tang.
In February 2001, the cybercrime team caused two more
transfers of stock to their accounts, this time of 67,500 and 65,300 shares.
For their cybercrime, Osowski and Tang were sentenced to 34 months in prison.
Access Control; Cisco Systems Inc.; Fraud.
U.S. Department of Justice. Former Cisco Accountants Plead Guilty to Wire Fraud
via Unauthorized Access to Cisco Stock. [Online, January 17, 2003.] U.S.
Department of Justice Website.