SnapNames: Former exec. bid up domain prices
SnapNames, the largest reseller of Web site names, Wednesday alleged that a former top executive secretly bid on tens of thousands of domain name auctions over the past four years, driving up costs for other bidders and enriching himself in the process.
SnapNames owner Oversee.net said it learned about a month ago that the executive had been bidding on its domain auctions in violation of company policy that bars employees from doing so.
Mason Cole, vice president of Oversee corporate communications, said the executive was dismissed Monday.
http://voices.washingtonpost.com/securityfix/2009/11/snapnames_former_exec_bid_up_d.html