Update: 3/30/2014 - 8:56pm
"At the heart of the probe by the Department of Justice and the Securities and Exchange Commission, sources tell BuzzFeed, are allegations that for years Cisco, after selling billions of dollars worth of routers, communications equipment, and networks to Russian companies and government entities, routed what may have amounted to tens of millions of dollars to offshore havens including Cyprus, Tortola, and Bermuda.
"Two former Cisco insiders have described to BuzzFeed what they say was an elaborate kickback scheme that used intermediary companies and went on until 2011. And, they said, Cisco employees deliberately looked the other way.
"In 2011, disgruntled Cisco officials in Russia addressed a letter to Cisco CEO Chambers.
"The investigation is centered on day-to-day kickbacks to officials who ran or helped run major state agencies or companies. Such kickbacks, according to the allegations, enabled the firm to dominate Russia's market for IT infrastructure."
BuzzFeed: Former Cisco Execs Allege Vast Kickback Scheme In Russia
