chinese company accused by us of stealing trade secrets
Last Updated : GMT 16:22:18
Arab Today, arab today
Arab Today, arab today

Chinese company accused by US of stealing trade secrets

Arab Today, arab today

Arab Today, arab today Chinese company accused by US of stealing trade secrets

Washington - UPI

A Chinese wind turbine maker was charged Thursday with stealing trade secrets from a U.S. firm, allegedly costing it more than $800 million, prosecutors said. A federal grand jury in Wisconsin indicted Sinovel Wind Group Co., two of its employees and a former employee of a subsidiary of AMSC, a U.S. company formerly known as American Superconductor Inc., the U.S. Justice Department said in a release. Along with Sinovel, the individuals charged are Su Liying, 36, deputy director of Sinovel\'s research and development department; Zhao Haichun, 33, a technology manager for Sinovel; and Dejan Karabasevic, 40, a former employee of AMSC Windtec, a wholly owned subsidiary of AMSC. Each are named on one count of conspiracy to commit trade secret theft, theft of trade secrets and wire fraud, federal prosecutors said. \"Today, we announce charges against Sinovel and three individuals for stealing proprietary wind turbine technology from AMSC in order to produce their own turbines powered by stolen intellectual property,\" Acting Assistant Attorney General Mythili Raman said. \"This charged IP theft caused significant harm to a domestic company that develops cutting edge technology and employs Americans throughout the country.\" U.S. Attorney John Vaudreuil called the alleged theft a \"well-planned attack\" that was \"nothing short of attempted corporate homicide.\" AMSC developed and sold software and equipment to regulate the flow of electricity from wind turbines to electrical grids. Sinovel purchased the software and equipment from the Wisconsin company for wind turbines Sinovel manufactured, sold and serviced. The indictment charges that in March 2011, Sinovel owed AMSC more than $100 million for products and services previously delivered and had entered into contracts to purchase more than $700 million in products and services from AMSC in the future. The indictment alleges the defendants conspired to obtain AMSC\'s copyright information and trade secrets in order to produce wind turbines and to retrofit existing wind turbines without having to pay AMSC for previously delivered products and services. FBI Executive Assistant Director Richard McFeely said the case was \"a classic example of the growing insider threat facing our nation\'s corporations and their intellectual property.\" McFeely said that since 2008, the FBI\'s economic espionage arrests have doubled, while indictments have increased 500 percent and convictions are up 800 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese company accused by us of stealing trade secrets chinese company accused by us of stealing trade secrets

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese company accused by us of stealing trade secrets chinese company accused by us of stealing trade secrets

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday