DoJ Charges CEO for Dealing $1B in Fake Cisco GearDoJ Charges CEO for Dealing $1B in Fake Cisco Gear

The US Department of Justice has charged a Florida man for running a massive scheme that sold more than $1 billion in fraudulent Cisco networking equipment to unsuspecting customers.

Onur Aksoy of Miami, Fla., is accused of personally collecting millions off the scam, the DOJ said in a statement. The accused operated a company called "Pro Network Entities" that sold refurbished, rehabbed, and modified Cisco gear imported from China and Hong Kong along with fake yet convincing packaging, labels, and documentation.

The indictment for Aksoy said that victims who purchased the counterfeit hardware included hospitals, schools, government agencies, and the military, who were left with faulty, failing equipment.

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