11 Jul 2022 -
 Defence

Man charged in $1 billion fake Cisco equipment scheme

counterfeit mitigation

A Florida man has been arrested for importing counterfeit Cisco networking equipment that if authentic would be worth more than $1 billion, and reselling the fake products on Amazon.com, eBay and elsewhere, reports Reuters.

According to the report. Onur Aksoy, 38, of Miami, allegedly worked with suppliers in China and Hong Kong from 2013 to 2022 to import tens of thousands of fake devices through at least 19 entities in New Jersey and Florida dubbed the Pro Network.

The U.S. Attorney’s office in New Jersey, which announced the arrest, said Aksoy then resold the devices to unwitting customers, with the devices’ origins having been disguised with fake Cisco labels, packaging and documentation.

According to the indictment, the scheme netted about $100 million of revenue and several million dollars of illegal profit for Aksoy, who allegedly bought the fake devices for as much as 99% less than Cisco’s recommended retail prices.

For more help with looking at mitigating counterfeits components entering supply chain, contact Astute Electronics

Related News

Electronics counterfeit mitigation

09 Jul 2024 - Internal News

Astute Group signs distribution deal with VadaTech embedded computing solutions

Read more

02 Jul 2024 - Defence

Amphenol’s new Ranger military worn connector from Astute Group

Read more

17 Jun 2024 - Defence

US Government’s Chinese Semiconductor Ban Shakes Up Defence Industry

Read more

14 Jun 2024 - Defence

Webinars for Defence, Military, and Aerospace Engineers 

Read more

05 Jun 2024 - Defence

New Events Series for Defence, Military, and Aerospace Engineers 

Read more

05 Jun 2024 - Defence

Swindler faces jail for selling fakes to U.S. Defence

Read more