CEO of 19 companies accused of selling fake Cisco networking devices worth $1 billion

Washington, July 9: A US court has indicted a man who ran 19 companies and at least 15 Amazon storefronts, 10 eBay storefronts and several other entities that sold fraudulent and counterfeit Cisco networking devices worth $1 billion.

A federal grand jury for the District of New Jersey has charged Onur Aksoy, aka Ron Aksoy, aka Dave Durden, 38, of Miami with running a massive operation over many years to traffic in fraudulent Cisco networking equipment and counterfeits with an estimated retail value of over $1 billion. Tamil Nadu: Parking lot at Chennai International Airport to have electric vehicle charging stations and multiplexes

It imported tens of thousands of fake Cisco devices from China and Hong Kong and resold them to customers in the United States and overseas, misrepresenting the products as new and genuine, the U.S. department said on Friday. Justice in a statement.

The operation reportedly generated more than $100 million in revenue, and Aksoy received millions of dollars for personal gain.

According to the indictment, the devices were generally older, lower-model products, some of which had been sold or discarded, which Chinese counterfeiters then modified to appear as genuine versions of new, improved, and original Cisco devices. more expensive.

Chinese counterfeiters added pirated Cisco software and unlicensed, shoddy, or unreliable components, including components to circumvent technological measures Cisco added to software to verify software license compliance and to authenticate hardware.

Finally, to make the devices appear new, genuine, high-quality, and factory-sealed by Cisco, Chinese counterfeiters allegedly added counterfeit Cisco labels, stickers, boxes, documentation, packaging, and other materials. said the Department of Justice.

Aksoy is charged with one count of conspiracy to traffic counterfeit goods and commit mail and wire fraud; three counts of postal fraud; four counts of wire fraud; and three counts of counterfeit trafficking.

(The story above first appeared on LatestLY on July 09, 2022 at 3:45 PM IST. For more news and updates on Politics, World, Sports, Entertainment and Lifestyle , log in to our website latestly.com).


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