Man accused of defrauding Cisco of millions

“A Massachusetts man is charged with defrauding Cisco Systems Inc. of millions of dollars worth of computer networking equipment. Michael A. Daly, 53, was arrested Tuesday during a search at his business… Cisco’s SMARTnet program allows customers to receive replacement equipment immediately, without having first to return the broken part. According to the complaint, Daly used false identities in 39 states to obtain networking equipment from Cisco under the program, carrying out the fraud at least 700 times, on each occasion obtaining equipment with a list price ranging from $995 to $25,000. After preliminary proceedings in Boston, Daly will appear in federal court in San Jose to face charges.”