Showing posts with label high tech thieves. Show all posts
Showing posts with label high tech thieves. Show all posts

US based Chinese wind tech company is fined by DOJ.

A District judge ruled Friday Chinese turbine manufacturer Sinovel Wind Group Co. must pay $59 million in a plot to steal trade secrets from a U.S. rival.

In January, a federal court in Wisconsin convicted Sinovel of stealing trade secrets from AMSC and nearly putting it out of business.
“U.S. District Judge James Peterson ordered the Chinese company to pay $1.5 million in fines and $57.5 million in restitution at a sentencing hearing Friday in Madison, Wisconsin, according to the Justice Department. American Superconductor claimed it suffered at least $800 million in losses from Sinovel’s scheme to pilfer its technology,” Bloomberg reports.

Editor:  At least someone is looking after our trade secrets here at home.  And, Trump is . . . . .