Election Section
Authorities searching for former Cisco executive
SAN FRANCISCO — Authorities said Wednesday they are searching for a former executive at Cisco Systems Inc. accused of diverting about $10 million in Cisco-owned stock into personal accounts in the Bahamas.
Robert Gordon, 42, of Palo Alto was indicted last year on two counts of wire fraud for the alleged multimillion-dollar scheme. He has pleaded innocent.
Gordon was free on $5 million cash bond, with his $1.6 million home as collateral. Authorities said he failed to appear in federal court Tuesday for a routine status conference to discuss a possible guilty plea. U.S. District Judge Jeremy Fogel declared Gordon a fugitive and issued an arrest warrant.
Authorities said Gordon transferred 30,206 shares of stock in Internet Security Services Group, which since has been acquired by Cisco, into a Bahamian shell company he created called “Cisco Systems Inc. Bahamas.”
Prosecutors said Gordon, a five-year employee who became a vice president of business development, transferred the stock without Cisco’s permission.
Cisco Systems is the world’s leading maker of Internet equipment. The San Jose company has fired Gordon.
