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Ex-Cisco Accountants Admit Guilt

August 21, 2001

SAN JOSE, Calif. (AP) _ Two former Cisco Systems Inc. accountants pleaded guilty Monday to exceeding their authorized access to the company’s computer systems in order to illegally issue almost $8 million in Cisco stock to themselves.

The U.S. Attorney’s office said sentencing for Geoffrey Osowski, 30, of Mountain View, and Wilson Tang, 35, of Palo Alto, is scheduled for Nov. 26. Each pleaded guilty to one count of computer fraud and faces five years in prison.

Osowski and Tang were charged with illegally gaining control of nearly 98,000 Cisco shares through a variety of schemes, including forgery and unauthorized access to databases. Authorities said the two bought cars and jewelry with profits from selling some of the shares.

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