Review these documents and acquire an in-depth, comprehensive overview of the documentary timeline regarding the fraudulent acquisition of Fiber Network Solutions, Inc. by Cogent Communications (NASDAQ: CCOI), visit the Documented Timeline Page.
In February 2003, while founder David J. Koch was medically incapacitated, Fiber Network Solutions, Inc. (FNSI) was fraudulently sold to Cogent Communications Holdings, Inc.
Concealed Acquisition — The deal was disguised as “miscellaneous assets” in Cogent’s SEC filings. Exhibit 2.5 was a miscellaneous asset purchase disclosed in Cogent's S-1 Registration. Key shareholder schedules to Exhibit 2.5 were withheld. Despite numerous notices, Cogent has refused to release the schedules to Exhibit 2.5.
Whistleblower Evidence — In 2024–25, Koch submitted recordings, board memos, and federal filings proving the conspiracy. Agencies engaged include the SEC, DOJ, IRS-CI, FAA, and U.S. Attorney’s Office.
Cover-Up — For over 23 years, Cogent insiders and associates suppressed records, circulated false founder narratives, and retaliated against witnesses.
Financial Impact — Cogent executives, including CEO Dave Schaeffer, executed insider stock sales amid whistleblower demands. A $174M securitization deal (April 2025) proceeded without disclosure of the federal investigations.
The FNSI–Cogent Communications Fraud Case (2003–2025)
Key Conspirators
The following individuals are identified as central figures in the FNSI–Cogent Communications fraud case. Each link provides detailed background, roles, and supporting evidence:
Dave Schaeffer – CEO, Cogent Communications - https://fibernetworksolutions.net/dave-schaeffer.html
William Kelly – Former General Counsel, FNSI - https://fibernetworksolutions.net/william-j-kelly.html
James Bacon – Insider/Relative of Kyle Bacon - https://fibernetworksolutions.net/james-bacon.html
Vince Bacon – Insider/Relative of Kyle Bacon - https://fibernetworksolutions.net/vincent-bacon.html
Craig Housley – Associate tied to 2023–24 obstruction - https://fibernetworksolutions.net/craig-housley.html
Inga Housley – Associate tied to 2023–24 obstruction - https://fibernetworksolutions.net/inga-housley.html
Kyle Bacon – CIO, Cogent (2003; Co-founder, FNSI - https://fibernetworksolutions.net/kyle-bacon.html
Diana Ritchie Thomas, CFO and Treasurer, FNSI - https://fibernetworksolutions.net/diana-ritchie-thomas.html
Evidence Archive - https://fibernetworksolutions.net/evidence.html
Why This Matters
This case is not just about one company. It concerns corporate accountability, securities law integrity, and protection of whistleblowers
Key Documents & Releases
News Release June 17, 2025
Koch provides Cogent with formal notices
Memo to Wilmington Trust Board of Directors
Eleven Questions Cogent Must Answer
News Release May 29, 2025
Legal Reply to John Chang, May 23, 2025
FNSI Demand Letter to Cogent
News Release July 4, 2025
News Release July 5, 2025
For an in-depth, comprehensive overview of the documentary timeline regarding the fraudulent acquisition of Fiber Network Solutions, Inc. by Cogent Communications (NASDAQ: CCOI), visit the Download PDF's page, or read the html versions at the Read Doc's On-Line page.
If David J. Koch consented to the transaction, why is his signature not on the controlling document — Exhibit 2.5?