Shalin Jhaveri, an Indian-American living in Syracuse, New York, has been charged with stealing trade secrets from his former employer, pharmaceutical giant Bristol-Myers-Squibb. Jhaveri, who worked in technical operations, reportedly planned on using trade secrets and other proprietary information to establish his own company in India. Jhaveri, if found in violation of Title 18 United States Code Section 1832.1, faces up to 10 years in prison and a $250,000 fine. The operation was a joint effort between the FBI and the Immigration and Customs Enforcement Service. John Pikus, the Special Agent In Charge of the FBI acknowledged the growing threat of trade secrets and intellectual property as well as the need for government agencies to pool their resources to address these threats.
Jhaveri is being held without bail pending a detention hearing scheduled for February 8th.
Additional news
FBI Press Release - http://albany.fbi.gov/dojpressrel/pressrel10/alfo020310.htm
Thaindian News - http://www.thaindian.com/newsportal/world-news/indian-american-charged-with-stealing-trade-secrets_100315117.html
Reuters - http://www.reuters.com/article/idUSN0316062420100204?type=marketsNews
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