The FBI recently announced that Michael Musacchio, 61, of Plano, Texas was found guilty of conspiring to hack into his former employer's computer network.

Musacchio was the president of transportation company Exel Transportation Services from 2002 until he left the company in 2004 to form competitior Total Transportation Services along with fellow Exel employees Joseph Roy Brown and John Michael Kelly.

Between 2004 and 2006, Musacchio, Brown and Kelly "engaged in a scheme to hack into Exel's computer system for the purpose of conducting corporate espionage," according to the FBI.

"Through their repeated unauthorized accesses into Exel’s e-mail accounts, the co-conspirators were able to obtain Exel’s confidential and proprietary business information and use it to benefit themselves and their new employer," the FBI reports.

Brown and Kelly had previously entered guilty pleas in May 2011 and August 2012. "Musacchio, found guilty of one felony count of conspiracy to make unauthorized access to a protected computer and two substantive felony counts of hacking, will be sentenced on June 14," writes Softpedia's Eduard Kovacs.