- Associated Press - Monday, December 13, 2010

ELIZABETH, N.J. (AP) - A New Jersey man has pleaded guilty to stealing a valuable Internet domain name and selling it on eBay for more than $111,000.

Twenty-six-year-old Daniel Goncalves of Union Township entered his plea Monday in state Superior Court in Elizabeth.

State Division of Criminal Justice prosecutors say he hacked into an account on the Go Daddy Group registration service in 2006 and transferred the “P2P.com” domain name to his own Go Daddy account.

He then sold it to former professional basketball player Mark Madsen. Madsen didn’t know the Internet address was stolen.

Goncalves was arrested in July 2009 following an investigation by the state police cybercrimes unit.

Prosecutors will recommend a five-year prison term and restitution.