A Chinese businessman residing in Hong Kong was charged for conspiring to steal important trade secrets from General Electric (GE). 64-year-old Chi Lung Winsman Ng, aka Winsman was indicted on Friday. “Winsman Ng and his co-conspirators allegedly chose to steal what they lacked the time, talent or money to create,” said John Demers of the Justice Department’s National Security Division. “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 technology involved is silicon carbide MOSFET technology worth millions—small switches that adjust electricity flow through devices. “As alleged in the indictment, Winsman Ng conspired to steal trade secrets from General Electric to start a competitor,” said Elizabeth Coombe, Attorney for the United States for the Northern District of New …
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