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Ethics

: Ethisphere Blog - Good. Smart. Business. Profit.

Former Valspar Chemist Charged with Stealing Trade Secrets

By bpj1966

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In March, the FBI?s Chicago field office arrested a 52-year-old former employee of Valspar Corp, and charged him with theft of company secrets. The former employee, David Yen Lee of Arlington Heights, Ill., faces a maximum penalty of 10 years in prison and a $250,000 fine.

Valspar was tipped off to the theft after Lee allegedly resigned abruptly from his job two weeks after returning from a business trip in China. According to the complaint against him, Lee accepted a job at Nippon Paint Co., one of Valspar?s competitors.

The company discovered suspicious activity on Lee?s laptop, such as recently deleted records as well as a hidden file that contained a number of unauthorized programs, according to the Minneapolis Business Journal.

Full post as published by Ethisphere Blog - Good. Smart. Business. Profit. on July 27, 2009 (boomark / email).

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