KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal 
Micron Stock Surges on Strong AI Demand, Record Revenue, and Bullish Q4 Forecast 
Samsung Electronics Stock Surges on Report of Massive $59 Billion Share Buyback Plan 
Tesla and NatPower Partner on $5 Billion Battery Storage Expansion in Europe 
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy 
Tencent Reviews Marvelous Stake as Gaming Giant Reassesses Global Investment Strategy 
Trip.com Shares Tumble After Q1 Profit Drops and Weak Revenue Growth Outlook 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
OpenAI May Delay IPO to 2027 Amid $1 Trillion Valuation Goal 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
Johns Hopkins University Lays Off 110 Employees as Federal Research Funding Declines 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
Nissan Halts Electric Qashqai Development Amid EV Market Challenges 
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
FedEx Stock Drops After Weak 2026 Earnings Forecast Despite Strong Q4 Results 
Kioxia Targets U.S. Listing as AI Chip Boom Accelerates 
General Electric’s trade secrets were almost stolen when a Chinese businessman devised a plan to take documents out from the company. It was suggested that the scheme was busted after GE cooperated with the FBI to stop the crime.
The culprit was identified as Chi Lung Winsman Ng, a 64-year-old businessman who was caught conspiring to run off with GE’s trade secrets. He was charged a few days ago, and the Department of Justice revealed this incident to the public.
What they want to steal
Fox Business reported that Chi Lung Winsman Ng purposely teamed up with at least one individual to carry out his dark plan. He was said to have conspired with an engineer who works at General Electric for over seven years.
Apparently, the engineer was instructed to obtain the company’s proprietary information relating to GE’s MOSFET, which is a common item or part of computers and other electronic products. It is a kind of transistor that is often made of silicone and can also be found in automobile electronics.
Ng planned the whole stealing scheme while the engineer is understood to have carried out the deed since he has access to the company. It was said that General Electric’s trade secrets were in PowePoint formats since the company also used them as part of its business plan to attract more investors.
Now, while Ng has already been named in the crime, his co-conspirator still remained unknown. He is not identified yet even after Ng’s indictment, and it is not clear why the authorities are not revealing his identity yet.
Why they want GE’s trade secrets
The authorities shared that Chi Lung Winsman Ng wants the GE classified information because he is aiming to start his own business in China. It means that he will be applying the trade secrets to grow the company he’s building in his homeland.
“According to the indictment, Mr. Ng conspired to steal valuable and sensitive technology from GE and produce it in China,” FBI’s Albany field office special agent in charge, Thomas F. Relford, said in a press release. “Our office, the U.S. Attorney's Office, and GE coordinated closely and worked quickly to prevent that theft and the resulting damage to our economic security.”
In any case, Ng, who lives in Hong Kong, has not been arrested yet. The DOJ said that once he’s properly charged for the theft, he is facing 10 years in jail and a US$250,000 fine.
