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Ex-Cisco Exec Pleads Guilty to Insider Trading

July 31, 2002|Bloomberg News

Former Cisco Systems Inc. executive Robert Gordon, accused of stealing $10 million in stock from the company, pleaded guilty to criminal insider trading and wire fraud charges.

Gordon, a former vice president of business development for the world's largest maker of equipment that links computers, pleaded guilty as part of a settlement with the U.S. government on charges that he used fake stock transfers with several companies to divert funds to his personal accounts.

Under federal sentencing guidelines, Gordon, 43, faces as much as 20 years in prison on the charges. Terms of the plea agreement have not yet been made public.

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