A former computer contractor for the City of Newark has admitted he cheated technology giant Cisco Systems of several million dollars. In pleading guilty Wednesday to mail fraud and tax evasion, Michael Kyereme admitted he fraudulently obtained computer parts from Cisco and then resold them.
The 41-year-old Piscataway man faces up to 20 years in federal prison when sentenced in November. He remains free on $500,000 bond. When arrested in March 2007, authorities said Kyereme cheated San Jose, Calif.-based Cisco of more than $10 million, but no figure was specified Wednesday.
Source: MercuryNews