Two Chinese-born American citizens have been charged with 24 counts of stealing American trade secrets, an assault on American businesses valued at millions of U.S. dollars.
The charges were levied against Haoyang Yu and Tricon MMIC, a semiconductor company he and his wife established and include “possession and attempted possession of a trade secret, transporting stolen goods, visa fraud and smuggling.”
Furthermore, Yu’s wife, Yanzhi Chen, was charged with three counts of wire fraud and aiding and abetting wire fraud.
The charges relate to proprietary information from Analog Devices (ADI), a Nasdaq-listed semiconductor company that Yu worked for.
The charges represent American courts continuing to crackdown on the Chinese Communist Party and prove Attorney General Bill Barr correct once again: “The ultimate ambition of China’s rulers isn’t to trade with the United States. It is to raid the United States.”