• Home
  • News
  • Reviews
  • Digital technology
  • Cloud
  • Data analytics
  • Digital leaders
  • IoT
  • Opinion
  • Events
  • Whitepapers
  • Newsletters
  • Sign in
  • Events
    • Follow V3 Events

      Sign up to receive email alerts about our events

      Sign up
  • Whitepapers
    • V3resources 120x194
      Network Security Forensics For GDPR Compliance

      An effective network security forensics strategy can assist an organization in providing key compliance-related details as part of any post-incident GDPR investigation.

      Download
      V3resources 120x194
      10 ways to increase productivity with managed Office 365

      For businesses large and small, relying on a cloud-based collaboration and productivity suite such as Microsoft Office 365 is becoming the norm. Enhancing productivity in your organisation is vital to get ahead in 2017 - and using Office 365 can help, if it's used right...

      Download
      Find whitepapers
      Search by title or subject area
      View all whitepapers
  • Data Strategy Spotlight
  • Sign in
  •  
    •  

      You are currently accessing V3 .co.uk via your Enterprise account.

      Personalise your on site experience

      Download and use the apps

      Access your subscription from outside of the office

      Get relevant news and insight straight to your inbox

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • Newsletters
    • Facebook
    • YouTube
  • Register
  • News
  • Reviews
  • Digital technology
  • Cloud
  • Data analytics
  • Digital leaders
  • IoT
  • Opinion
 
  •  

    You are currently accessing V3 .co.uk via your Enterprise account.

    Personalise your on site experience

    Download and use the apps

    Access your subscription from outside of the office

    Get relevant news and insight straight to your inbox

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
V3.co.uk
  • Web

Dotcom con man is sent down

Duped investors with claim of wireless breakthrough

  • Nick Farrell
  • 06 December 2002
  • Tweet  
  • Facebook  
  •  
  •  
  • Send to  
0 Comments

A dotcom con man who cheated investors out of $3.7m (£2.3m) has been sentenced to 11 years in prison.

According to the San Jose Mercury News, Steven Ristau was also ordered to pay more than $6.7m (£4.3) in fines and restitution.

The 44-year-old founder of PacketSwitch.com showed movie clips to potential investors at his company's offices that he claimed were transmitted from a site 12 miles away using a new wireless technology.

But the clips were actually beamed from an off-the-shelf wireless local area network product hidden in the ceiling a few feet away.

Ristau also used his connections with churches in the Bay Area to recruit investors, and claimed to have big deals with the South Korean government and substantial operations in Africa and Asia.

But the money he garnered all went towards maintaining his lifestyle.

He put $550,000 (£350,500) toward a $1.8m (£1.1m) San Jose home, spent money on a family vacation to Hawaii, and paid off his child support.

  • Tweet  
  • Facebook  
  •  
  •  
  • Send to  
  • Topics
  • Web

V3 Latest

First plant to grow on the Moon, err, dies
First plant to grow on the Moon, err, dies

Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night

  • Communications
  • 18 January 2019
Fortnite news and updates: Fortnite made $2.4bn in 2018, according to SuperData
Fortnite news and updates: Fortnite made $2.4bn in 2018, according to SuperData

Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018

  • Software
  • 18 January 2019
Japanese firm sends micro-satellites into space to deliver artificial meteor showers on demand
Japanese firm sends micro-satellites into space to deliver artificial meteor showers on demand

Meteor showers as a service will be visible for about 100 kilometres in all directions

  • Communications
  • 18 January 2019
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data

New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago

  • Communications
  • 18 January 2019
Back to Top
  • Contact
  • Marketing solutions
  • Enterprise IT Events
  • About
  • Terms & conditions
  • Privacy policy
  • RSS
  • Twitter
  • Newsletters
  • Facebook
  • YouTube

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017