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PIO ex-staffer of Cisco held for $9.3m fraud

Posted in World

Published on March 10, 2019 with No Comments

An Indian-origin former employee of Cisco Systems has been arrested for allegedly defrauding the tech major of more than $9.3 million. Prithviraj Bhikha, 50 was charged in a criminal complaint with wire fraud, US attorney David Anderson and FBI special agent incharge John Bennett have said. The complaint was unsealed following Bhikha’s arrest on March 1. Bhikha has been released on a $3 million bond. His next court appearance is scheduled for March 18 for arraignment. If convicted on the charge in the criminal complaint, he faces a maximum sentence of 20 years’ imprisonment, and a fine of $250,000 along with restitution. Bhika, who was a director in the global supply unit of Cisco until mid-2017, set up shell companies abroad to negotiate with third-party vendors on behalf of Cisco and he directed payments to those firms. 

 

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