Verizon fights copper, equipment theft in Md. with $10,000 reward
Verizon Communications (NYSE: VZ) is once again finding itself battling network thieves, reporting that over $300,000 worth of FiOS installation equipment, tools and copper wire was stolen from three work centers in Maryland.
The service provider is offering a reward up to $10,000 for any information that results in the arrest and prosecution of those responsible for the thefts.
The thefts, which began in the middle of last month, occurred at 7535 Mission Drive, Lanham; 1820 Forest Drive, Annapolis; and 12277 Wilkins Ave., Rockville.
In addition, the telco reported that thieves stole copper wire in 13 other locations in Maryland.
Despite various states trying to pass new laws to curb copper theft, the problem has become more pronounced in recent years as copper prices continue to rise.
Verizon is hardly alone in dealing with equipment and copper theft.
Frontier (Nasdaq: FTR), for example, recently saw an uptick in copper theft in three towns it serves in Washington state. Stolen copper cable in the towns of Snohomish, Skykomish and Granite Falls caused temporary outages for voice and data customers and affected 911 services.
Interestingly, the spate of copper theft in Washington comes as the state tries to implement tougher copper theft laws. Like Verizon, Frontier has reported copper theft in other markets including Ohio and West Virginia.
- see the release
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