Cogent Communications Faces Renewed Whistleblower Accusations

WASHINGTON - June 2, 2025 - PRLog -- — Federal whistleblower David J. Koch, co-founder and former CEO of Fiber Network Solutions, Inc. (FNSI), today accused Cogent Communications Holdings, Inc. of "criminal obstruction" for refusing to produce the missing schedules to Exhibit 2.5—a document tied to Cogent's 2003 acquisition of FNSI while Koch was medically incapacitated.

Despite fourteen legal notices—including a final 48-hour deadline issued last week—Cogent has not produced the schedules referenced in its SEC filing. As of June 2, the documents remain concealed, reinforcing what whistleblowers now widely suspect: the schedules contain direct evidence of criminal conduct, misappropriated assets, and material accounting fraud.

"If these schedules were harmless, they'd already be public," said Koch. "Cogent's own Chief Legal Officer has acknowledged they exist. If they now claim otherwise, then they committed securities fraud by referencing them. Either way, their refusal is obstruction—and everyone sees it."

This latest act resets the statute of limitations under 18 U.S.C. § 1962(d), the RICO conspiracy statute, and adds to a growing series of predicate acts: fraud, obstruction, retaliation, and concealment.

A FEDERAL PATTERN OF OBSTRUCTION

Cogent's Chief Legal Officer, John Chang, responded to a formal whistleblower demand by declaring, "…you are not entitled to those materials, and we are not obligated to provide those to you." That statement—made to a federally protected whistleblower and copied to Cogent's board—has been flagged as a likely violation of 18 U.S.C. § 1513(e) (retaliation) and § 1519 (record concealment in a federal investigation).

"It's not just unethical—it's illegal," said a former SEC enforcement counsel. "Board members saw the attachments and chose silence. That's not passive oversight—it's participation."

LEGAL EXPOSURE AND RED FLAGS

Since the May 27 deadline, Cogent has offered no response, denial, or explanation. Meanwhile, CEO Dave Schaeffer's $4.3 million stock sale between May 15–23 triggered referrals to the SEC, DOJ, IRS-CI, FAA, and the U.S. Attorney for the Southern District of Ohio.

Each day Cogent withholds the Exhibit 2.5 schedules, it adds exposure under:

• 18 U.S.C. § 1962(d) – RICO Conspiracy
• 18 U.S.C. § 1519 – Concealment of Records
• 15 U.S.C. § 78j(b) – Securities Fraud by Omission
• 18 U.S.C. § 1513(e) – Whistleblower Retaliation

THE STAKES FOR COGENT DIRECTORS

Forensic tracking confirms multiple board members accessed the whistleblower's demands. Directors who remain silent despite this are now exposed to personal liability under the Caremark doctrine, Delaware fiduciary law, and federal criminal statutes.

"This isn't passive negligence—it's concealment," said Koch. "They're sitting on documents that prove the conspiracy. With every hour of silence, they confirm it."

WARNING FROM THE LEGAL COMMUNITY

Koch warned that each additional day of concealment will be treated as a separate predicate act of obstruction. New complaints and evidence files are being prepared for federal submission.

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