US court found Chinese wind turbines producer guilty of stealing trade secrets

Beijing. January 26. Silkroadnews - The US court found the Chinese wind turbines producer guilty of stealing the U.S. trade secrets, causing $800 million damage, The Straits Times reported.
“Sinovel, one of China’s leading wind turbine makers, was found guilty of stealing proprietary technology from US firm AMSC, causing ASMC US$800 million (S$1 billion) in losses,” the report said.
The Wisconsin jury found Beijing-based Sinovel Wind Group guilty of conspiracy to steal commercial secrets and fraud.
According to the Justice Department, the conviction will mean hundreds of millions of dollars for Sinovel Wind Group in form of possible fines.
The court concluded that in 2011 Sinovel Wind Group hired Mr. Dejan Karabasevic, an Austria-based employee of AMSC, who stole the source code of AMSC computers, which formed the basis of its technology for regulating the flow of electricity from wind turbines to electrical grids.
At that time, AMSC, formerly known as American Superconductor Inc., was selling its technology to Sinovel.
The code allowed Sinovel to abandon its orders from the U.S. company, because it received this technology for its own, bringing AMSC estimated losses of $800 million.
“Losing Sinovel orders plunged AMSC into “severe financial hardship”, as the company’s market value fell by US$1 billion and it was forced to cut 700 jobs, more than half of its global workforce,” the report said.
The US government has repeatedly warned of Chinese companies, both private and governmental, that they seek to steal secrets and technology from the US.