Minn. man pleads guilty to cheating Cisco Systems
A Minnesota man has pleaded guilty to scheming to cheat computer parts maker Cisco Systems Inc. out of about $388,000.
The U.S. Attorney's office says 46-year-old Phillip Webb of Brooklyn Park pleaded guilty Monday to one count of mail fraud.
Webb was manager of network services for Woodbury-based Postal Credit Union. In his plea agreement, Webb admitted that from June 2007 to October 2009 he falsely notified Cisco that parts in PCU's computer systems were faulty.
Webb sold the Cisco replacement parts online and returned cheap secondhand units to Cisco as the allegedly defective parts.
The fraud cost Cisco an estimated $388,000.
Sentencing has not been scheduled yet.