May 2, 2024 at 09:49AM
Former cybersecurity consultant Vincent Cannady, 57, was arrested for allegedly extorting a New York-based IT company. After being terminated, he reportedly used company resources to steal confidential data and demanded $1.5 million, threatening to expose the information. The Department of Justice is pursuing charges that could result in a 20-year prison sentence.
Based on the meeting notes, the former cybersecurity consultant, Vincent Cannady, has been arrested for allegedly attempting to extort a publicly traded IT company by threatening to disclose confidential and proprietary data. The Department of Justice states that Cannady allegedly used a company-issued laptop to download proprietary and confidential information after the termination of his employment. He then threatened to publicly disclose this sensitive information unless the company agreed to pay him up to $1.5 million as a settlement for what he claimed was employment discrimination. Additionally, Cannady attempted to engage the media and hinted at releasing the stolen information publicly or disclosing it through legal filings and reports to regulatory bodies, which could harm the company’s reputation and investor confidence. The complaint against Cannady states that he repeatedly sought assurances to be added to a settlement that prevented his previous employer from referring the case to law enforcement. If found guilty, Cannady faces charges for extortion and could potentially receive a maximum sentence of 20 years in imprisonment as determined by the United States District Court for the Southern District of New York.