Cisco V.P. Accused of Embezzling $10 Million

An executive at Cisco Systems Inc., the world’s leading maker of Internet equipment, has been arrested and accused of embezzling more than $10 million, the company confirmed. Robert S. Gordon, a vice president of business development at Cisco, is alleged in an FBI affidavit of having fraudulently acquired more than 30,000 shares of stock in Internet Security Services Group Inc. The affidavit alleges Gordon sold those shares after transferring them into a company he started in the Bahamas. “We brought this situation to the attention of law enforcement authorities. We are assisting their investigation and support their prosecution efforts,” Cisco said. A Cisco spokesman said Gordon no longer works there.