China’s Sinovel Charged With Stealing Trade Secrets
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Sinovel Wind Group Co., a Chinese wind-turbine company, was charged with stealing trade secrets from its former U.S. supplier, a case of industrial espionage that may heighten tensions in U.S.-China relations in the wake of the Edward Snowden affair.
U.S. prosecutors secured an indictment of the company and two of its executives in federal court yesterday in Madison, Wisconsin. Also charged was Dejan Karabasevic, who pleaded guilty in Klagenfurt, Austria, to stealing source code for the turbine controllers made by American Superconductor Corp., his former employer. The company lost more than $1 billion in market value after the theft became public.