Where the Comment is King

THE NEWS COMMENTER

VOTE  (0)  (0)

Chinese businessman charged with conspiring to steal GE's semiconductor tech

Added 02-26-21 08:23:01pm EST - “The Justice Department charged a Chinese businessman with conspiring to steal trade secrets from General Electric related to the U.S. company's advanced semiconductor technology in an alleged scheme to make millions of dollars producing…” - Washingtonexaminer.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Washingtonexaminer.com: “Chinese businessman charged with conspiring to steal GE’s semiconductor tech”. Below is an excerpt from the article.

The Justice Department charged a Chinese businessman with conspiring to steal trade secrets from General Electric related to the U.S. company’s advanced semiconductor technology in an alleged scheme to make millions of dollars producing and selling the purloined technology in China.

Chi Lung Winsman Ng, the 64-year-old vice president of sales for a Chinese semiconductor company who lives in Hong Kong, was indicted Thursday for allegedly conspiring with an unnamed GE engineer (known in the charging documents only as Co-Conspirator #1) to steal GE’s trade secrets tied to its advanced silicon carbide metal–oxide–semiconductor field-effect transistor technology, electronics that regulate the flow of electricity in devices used in wind turbines, solar inverters, medical imaging systems, and aviation equipment. Ng has not been arrested yet.

“Winsman Ng and his co-conspirators allegedly chose to steal what they lacked the time, talent, or money to create,” John Demers, the assistant attorney general for the DOJ’s National Security Division and the head of its China Initiative, said on Friday. “Theft of American intellectual property for the benefit of foreign firms deprives American companies of the fruits of their creativity and American workers of their jobs. The Department will do all it can to disrupt this illegal and economically destructive conduct.”

The Justice Department said that between March 2017 and January 2018, Ng and at least one co-conspirator “plotted to develop a business that would manufacture and sell silicon carbide MOSFETs using trade secrets stolen from GE.” Ng’s own LinkedIn lists him as working as the vice president of sales at Tianyu Semiconductor Technology Company, based out of Guangdong, China, since 2015. Ng says he received an electronics engineering diploma at Hong Kong Polytechnic University in the 1980s and a postgraduate diploma in marketing from the University of Strathclyde in Scotland, as well as an MBA at the University of Hull in England in the 1990s.

“Ng conspired with at least one other person, a GE engineer of more than seven years, to steal MOSFET trade secrets and other proprietary information from GE. Ng and co-conspirator #1 allegedly used those trade secrets to create a business plan and develop PowerPoint presentations which they gave to prospective investors,” the Justice Department said. “Ng and co-conspirator #1 told potential investors that their business could be profitable within three years and that their start-up business possessed assets — tangible and intangible — they estimated to be worth $100 million.”

Read more...

If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

CLICK TO SHARE

BACK TO THE HOME-PAGE