Wiscon­sin jury convic­ted Beijin­g-based Sinove­l Wind Group Co Ltd of conspi­racy to commit trade secret theftWASHINGTON DC: Sinovel, one of China’s leading wind turbine-makers, was found guilty Wednesday of stealing proprietary technology from US firm AMSC, causing it $800 million in losses, the Justice Department said. A Wisconsin jury convicted Beijing-based Sinovel Wind Group Co Ltd, of conspiracy to commit trade secret theft, theft of trade secrets, and wire fraud after an 11-day trial. US charges six Chinese citizens with economic espionageAt the time AMSC, formerly known as American Superconductor Inc, was selling its technology to Sinovel. “Sinovel nearly destroyed an American company by stealing its intellectual property,” said Acting Assistant Attorney General John Cronan. The US government has repeatedly warned of Chinese companies, both private and government-related, seeking to steal US trade secrets and technology.

Source: The Express Tribune January 25, 2018 07:41 UTC