Security News > 2024 > May > Cybersecurity consultant arrested after allegedly extorting IT firm
A former cybersecurity consultant was arrested for allegedly attempting to extort a publicly traded IT company by threatening to disclose confidential and proprietary data unless they paid him $1,500,000.
A staffing company assigned Vincent Cannady, 57, to assess and remediate potential vulnerabilities in a New York-based multinational information technology infrastructure services provider.
After the termination of his employment for performance reasons, on June 23, 2024, Cannady allegedly used a company-issued laptop to download proprietary and confidential information, including architectural maps, trade secrets, and lists of potential vulnerabilities, from the victim company's network, to which he still had access.
The Department of Justice says Cannady 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.
A DOJ announcement says the former IT consultant involved the staffing company in his extortion attempts by communicating his demands and legal threats to them as well.
CANNADY then demanded that the company settle unspecified discrimination and emotional distress claims.