Ex-Intel Employee Steals Trade Secrets Worth $1Billion

Respital

Respital

Active Member
http://www.money.co.uk/article/1001...als-trade-secrets-worth-1-billion-dollars.htm

A former engineer for the company is alleged to have downloaded confidential documents worth more than $1billion.

An ex-engineer for microprocessor giant Intel has been charged with stealing trade secrets worth $1billion from the firm - potentially with the intent of using them to further his career at rival chip manufacturer AMD.

Biswamohan Pani, who worked in the company’s Hudson-based division until June this year, now faces one count of theft of trade secrets and four counts of wire fraud.

It is alleged that after resigning from the company, Pani downloaded more than a dozen confidential documents from Intel’s computer system. Together these documents are estimated to be worth more than $1billion in research and development costs.

The incident took place over a four day period in which Pani was technically employed by both Intel and AMD. Using up excess holiday owed to him before he left the company he obtained authorisation to continue accessing Intel’s systems under the pretence of researching a hedge fund job he was considering.

While Pani maintains that he was accessing the data to give to his wife, who also works for Intel, Federal prosecutors have speculated that the engineer instead planned to use the information to further his career at new employer and Intel rival Advanced Micro Devices (AMD).

Should the 33 year old be convicted, he faces a significant amount of time behind bars with up to 20 years in prison for each count of wire fraud plus up to an additional 10 years as punishment for the theft of trade secrets charge applicable.

Despite Pani being on the company’s payroll at the time of the incident, AMD have not been implicated in the confidentiality breech.

In a formal statement a representative of the firm said:

"AMD has not been accused of wrongdoing, and the FBI has stated that there is no evidence that AMD had any involvement in or awareness of Mr. Pani's alleged actions,"

AMD currently own a 20% share in the global microprocessor market, with Intel governing the remaining 80%.
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Maybe the Phenom II is packed with a little extra...:P
 
That Madoff guy has them all beat!



Edit * I think Steven Spielberg was one of the people he scammed.

LOL..I can see it now...

... As Madoff is making his way down the street an seeming innocent child and his pet who is sitting in the front basket approach

ET " Elliott ;There he is ,pullover beside him while I get out the 12 gauge Sawed Off "

Elliot " Now ,Smoke his a$$ "

BOOM !

ET " ET phone home...To SS, tell him job is done"

The bike slowly peddles down a back alley and then out of sight.
 
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Scubie67 said:
That Madoff guy has them all beat!



Edit * I think Steven Spielberg was one of the people he scammed.

LOL..I can see it now...

... As Madoff is making his way down the street an seeming innocent child and his pet who is sitting in the front basket approach

ET " Elliott ;There he is ,pullover beside him while I get out the 12 gauge Sawed Off "

Elliot " Now ,Smoke his a$$ "

BOOM !

ET " ET phone home...To SS, tell him job is done"

The bike slowly peddles down a back alley and then out of sight.
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Something doesnt make sense bout all that...how can one guy be responsible for something so utterly enormous.

They are saying based on things hes said that this might have been going on for years..they estimate the total to be around $50 billion dollars..

WTF?
 
scooter said:
Something doesnt make sense bout all that...how can one guy be responsible for something so utterly enormous.

They are saying based on things hes said that this might have been going on for years..they estimate the total to be around $50 billion dollars..

WTF?
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Yep it happens look at the bank bailout and how easy they got their 750 billion .Certain industries will be helped no matter what while other industries allowed to go bankrupt.Big money and greed even though the example I gave was legal the reason we got their in the first place was corruption
 
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scooter said:
Something doesnt make sense bout all that...how can one guy be responsible for something so utterly enormous.

They are saying based on things hes said that this might have been going on for years..they estimate the total to be around $50 billion dollars..

WTF?
Click to expand...

If you're wondering how he was able to steal the equivalent of $1 or $50 billion.

It's because he stole their research and development documents, not processors. It would take thousands (millions?) of trucks to steal that many processors.
 
OK how enoying i plan what im going to buy for my build then i think oh yer i7 should be great but now i here Phenom ll is going to be better? :( Time for a re-think?
 
I don't think they have time to re-do the Phenom II it's probably already in production if they are aiming for a January '09 release.
 
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