New York News: The U.S. government has charged Sinovel, one of the largest Chinese wind turbine manufacturers,with stealing trade secrets from one of its US suppliers. Chinese wind turbine manufacturer from one of its US suppliers, alleging the offence amounted to “attempted corporate homicide”, causing more than $800 million in losses, the Justice Department said.
The U.S. Justice Department said. Two employees of Sinovel accused of conspiring to steal copyrighted information from AMSC and used it to make wind turbines and retrofit existing equipment with the American company’s technology.
U.S. federal grand jury in Wisconsin indicted Sinovel, along with its employees Su Liying and Zhao Haichun, and former AMSC employee Dejan Karabasevic on a series of charges that include theft of trade secrets and wire fraud.
According to the indictment, Sinovel bought software and equipment made by AMSC to regulate the flow of electricity from wind turbines to electric grids. The company owned AMSC more than $100 million and had contracted to buy another $700 million in its products and services. Sinovel faces a maximum penalty of five years of probation and a fine of as much as $1.6 billion for each count charged.
The three individuals could face as much as five years in prison for conspiracy, 10 years for theft of a trade secret and 20 years for wire fraud.