Palo Alto man charged in trade secrets caseA Palo Alto man and a San Jose man were arrested on charges of conspiracy to steal trade secrets and on five counts of theft of trade secrets, according to the U.S. attorney's office.
Lan Lee, 42, of Palo Alto, and Yuefei Ge, 34, of San Jose, were arrested Friday for allegedly conspiring to steal trade secrets from their former employers, NetLogics Microsystems, which is based in Mountain View, and Taiwan Semiconductor Manufacturing Corporation, which has facilities in San Jose, Taiwan, Singapore, and the state of Washington.
The two men allegedly stole trade secrets, or proprietary business information, related to the development and design of computer chips. The defendants allegedly created a company called SICO Microsystems to develop and market the products that were created using the stolen trade secrets, the U.S. attorney's office reported.
Lee and Ge appeared before Magistrate Judge Howard Lloyd on Friday morning. They were released on $300,000 bail.
The maximum penalty for each count of conspiracy to commit theft of trade secrets as well as the "substantive counts of theft of trade secrets" is 10 years in prison plus a fine of $250,000, the U.S. attorney's office reported.
The defendants are scheduled to appear before United States District Court for the Northern District of California Magistrate Judge Howard R. Lloyd on June 21 at 1:30 p.m.
—Bay City News Service