Geoffrey Osowski and Wilson Tang admitted to a US federal court that they had fraudulently obtained 230,000 Cisco shares which they later sold. The pair spent the proceeds on cars and jewellery.
Each pleaded guilty to one count of computer fraud and now face up to five years in prison and a £172,000 fine.
According to the US Attorney’s Office Osowski and Tang have agreed to forfeit assets worth more than £3.45m, as well as to reimburse the company.
Prosecutors are reported to have dropped three counts of wire fraud and conspiracy to commit computer and wire fraud.
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Company bosses are considering relocating operations or headquarters away from the UK following the country's decision to leave the European Union