Brazil Charges Cisco Director with Tax Fraud and Other Crimes

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Tuesday, January 1, 2008
Bruce Zagaris
On November 23, 2007, a Brazilian judge formally charged Carlos Roberto Carnevali, director of operations at Cisco Systems Inc.’s Brazil unit, with tax fraud and other crimes involving. A Brazilian judge also charged 15 other persons mostly connected to Mude Comércio e Serviços, Cisco’s principal distributor in Brazil. Cisco fired Carnevali after he was charged. Cisco released a statement, saying it was discharging Carnevali due to the nature of the criminal charges against him and the company’s internal review, which found that he failed to comply with Cisco’s code of business conduct. Carnevali served as Cisco System’s vice president for Latin America for more than two years...[more]