Former Employee Stole Ford Secrets Worth $50 Million

chicksdaddy writes "A ten year veteran of US automaker Ford pleaded guilty in federal court on November 17 to charges that he stole company secrets, including design documents, valued at between $50 million and $100 million, and shared them with his new employer: the Chinese division of a US rival of Ford's. Xiang Dong ('Mike') Yu admitted to copying some 4,000 Ford Documents to an external hard drive, including design specifications for key components of Ford automobiles, after surreptitiously taking a job with a China-based competitor in 2006. Yu, who took a job for Beijing Automotive Company in 2008, was arrested during a stopover at Chicago in October, 2009. The FBI seized his Beijing Automotive-issued laptop, and an analysis found 41 stolen Ford specification documents on the hard drive. He faces five to six years in prison and a $150,000 fine (PDF)."

A word to the wise ...

[ScrewMaster]

The FBI seized his Beijing Automotive-issued laptop, and an analysis found 41 stolen Ford specification documents on the hard drive.

Dear "Mike",

When you get out, and if you decide to again play industrial spy, try this [truecrypt.org]

Does this mean all the Chinese cars are going to

[pecosdave]

have bad power steering pumps and short life torque converters from now on?

(sorry, had to go there, the problems I've had to deal with on my own/families/friends Fords the most)

Thank goodness those weren't MP3s

[Anonymous Coward]

Would have been, what, 40 times as much in fines?

Good thing he didn't share a few music files

[bobgap]

Or he'd REALLY get nailed, not the slap on the wrist he's getting1

Re:White Collar Vs Pilfering From Giants

[Penguinshit]

I vote for Hong Kong.

Re:Wake up, people.

[Anonymous Coward]

I want ALL prisoners to be beat up AND raped...I don't care where they're being held!