CyberNews Briefs

Taiwanese Company Admits Stealing US Trade Secrets

A 40-year-old company, United Microelectronics Corporation, was fined $60m for pleading guilty to stealing trade secrets from an American company, Micron Technology. UMC was indicted in 2018 for conspiring to steal trade secrets to benefit Fujian Jinhua Integrated Circuit Company. Fujian was indicted on the same charges.

Just two days ago, the United States Justice Department stated that UMC admitted stealing the trade secrets and would cooperate in an investigation and prosecution of Fujian. At this time, Fujian denies the charges. The plea deal UMC entered contains a guilty plea of one count of criminal trade secret theft with a $60m fine and three years of probation in return. Fujian and three individuals hired from Micron’s Taiwan subsidiary will most likely have a trial next year. Civil action against Fujian continuing to transfer solen trade secrets will also continue. 

Read More: Taiwanese Company Admits Stealing US Trade Secrets

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.