Information Security News mailing list archives
Chinese National Stole Ford Secrets Worth More Than $50 Million
From: InfoSec News <alerts () infosecnews org>
Date: Tue, 23 Nov 2010 00:15:41 -0600 (CST)
http://threatpost.com/en_us/blogs/chinese-national-stole-ford-secrets-worth-more-50-million-112210 By Paul Roberts Threat Post November 22, 2010 A ten year veteran of the U.S. automaker Ford Motor Company pleaded guilty in federal court on November 17 to charges that he stole company secrets, including design documents, worth more than $50 million and sharing them with his new employer: the Chinese division of a U.S. rival of Ford's. Xiang Dong ("Mike") Yu admitted to copying some 4,000 Ford Documents to a external hard drive, including system design specifications for Ford's cars after surreptitiously taking a job with a competitor in 2006. Under the plea agreement, announced last week, Yu faces a sentence ranging from five to six years in prison and a fine of up to $150,000 for a theft of trade secrets valued at between $50 million and $100 million, according to a statement by Barbara L. McQuade, the United States Attorney for the Eastern District of Michigan. According to the Plea Agreement, Yu obtained documents containing prized Ford design documents, including those for components such as an Engine/Transmission Mounting Subsystem, Electrical Distribution system, Electric Power Supply, Electrical Subsystem and Generic Body Module. Yu was a Product Engineer at Ford, where he had worked since 1997, but the documents taken had no connection to his work at Ford. [...] ___________________________________________________________ Tegatai Managed Colocation: Four Provider Blended Tier-1 Bandwidth, Fortinet Universal Threat Management, Natural Disaster Avoidance, Always-On Power Delivery Network, Cisco Switches, SAS 70 Type II Datacenter. Find peace of mind, Defend your Critical Infrastructure. http://www.tegataiphoenix.com/
Current thread:
- Chinese National Stole Ford Secrets Worth More Than $50 Million InfoSec News (Nov 22)