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Chinese accused of stealing GE technology to open competitor company in Asia

 

A 64-year-old Chinese man, a Hong Kong resident, is being accused of stealing, – along with another “co-conspirator” – “millionaire trade secrets from General Electric (GE)” to create a competitor company in Asia. If convicted, the Chinese could face up to 10 years in prison in addition to being required to pay a fine of up to $ 250,000.

According to the United States Department of Justice (DOJ), between March 2017 and January 2018, the pair planned to develop a manufacturing operation for silicon carbide MOSFETs and semiconductor transistors. based on technology stolen from GE.

According to the FBI investigation, the Chinese obtained the information through a partner, who worked as an engineer at GE. You FBI agents found presentation slides, which the accused probably used to offer the technology to investors.

The Chinese and his co-conspirator sold the technology promising a profit of 100 million in up to 3 years of operation. To start making silicon chips, the duo asked a financing of around US $ 30 million in exchange for an equity stake in the company.

“In August 2017, [o chinês] and the co-conspirator allegedly met in China and made presentations to a Chinese investment company that was considering providing financing for the company beginner “, explains the DOJ.

The case is being investigated by the FBI and prosecuted by the US National Security Division, Counterintelligence Section and US Export Control.

“[O chinês] conspired to steal valuable and sensitive technology from GE and reproduce it in China. Theft of trade secrets is a constant and dangerous threat […]”said FBI Special Agent Thomas F. Relford.

According to communiqués published by the DOJ, from November 2019 to February 2021, at least eight Chinese have been accused of spying, selling information to China or stealing technology to open competing companies in Asia.


Source: US Department of Justice.

See the original post at: https://thehack.com.br/chines-e-acusado-de-roubar-tecnologia-da-ge-para-abrir-empresa-concorrente-na-asia/?rand=48873

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