Saturday, February 6, 2010

Business Espionage - Bristol-Myers Squibb Co.

A former employee of Bristol-Myers Squibb Co. is being charged with stealing trade secrets from the pharmaceutical firm in an attempt to create a competing company in India, according to the federal government. 

U.S. Attorney Richard S. Hartunian and the Federal Bureau of Investigation said in a statement that Shalin Jhaveri, who worked at Bristol-Myers from November 2007 until Tuesday, stole numerous trade secrets from the company. If convicted, he faces up to 10 years in prison and a $250,000 fine. 

It's unclear what sort of information Jhaveri is alleged to have taken from the company. He worked as a technical operations associate at the company, according to a press release. (more) (FBI press release)