Ex-Intel worker charged with $1B IP theft
Sacramento Business Journal
Prosecutors on Wednesday charged a Worcester, Mass. man with stealing trade secrets worth more than $1 billion.
Biswamohan Pani, 33, was indicted for allegedly stealing trade secrets from Intel Corp.’s facility in Hudson, Mass., and downloading confidential documents from the company’s offices in California.
Pani was hit Wednesday with four new counts after being initially charged on Aug. 28 with one count of theft of trade secrets.
According to the indictment, Pani gave notice to leave Intel (Nasdaq: INTC) and told his superiors he was using up about a week of vacation while looking for a job at a hedge fund.
In reality, according to the indictment, he had taken a job at Intel rival Advanced Micro Devices (NYSE: AMD) and, while using up vacation time at Intel, was downloading valuable trade secrets.
Over four days, the government alleges, he took information Intel characterized as “top secret.”
When the FBI searched Pani’s house on July 1, agents allegedly found eight documents described by Intel as “confidential,” “secret” or “top secret.”
The information Pani allegedly downloaded was worth $1 billion in research and development costs, according to the government.
AMD neither requested nor knew about the information Pani allegedly stole, according to the government.
Pani, if convicted, could face decades of prison time or hundreds of thousands of dollars in fines.
Intel employs thousands of people in Folsom.
Boston Business Journal
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