Stock Groups

Beijing says U.S. spying charges Chinese citizen ‘pure fabrication’ -Breaking

by Mike Robinson

[ad_1]


SHANGHAI (Reuters – China has labelled Monday’s charges against a Chinese citizen convicted by the United States for stealing trade secrets theft as “pure fabrication”.

U.S. Justice Department announced Friday that Xu Yanjun was convicted of conspiring to steal trade secrets from U.S. aerospace and aviation companies.

Wang Wenbin, spokesperson at the Chinese Foreign Ministry stated that the allegation “is pure fabrication”.

We demand the U.S. to handle this case in accordance with the law, and in a fair manner to protect the rights and interest of Chinese citizens.”

Xu was convicted on two counts, one of economic espionage conspiracy and the other of conspiracy to steal trade secret trade secrets.

According to a release, Xu could spend up to 60 years behind bars and face fines of more than $5,000,000. A federal judge will sentence him.

Xu is accused of using multiple aliases in order to conduct economic espionage for China and steal trade secrets. Numerous U.S. aerospace and aviation companies were involved, with GE Aviation being one of them. General Electric The release stated that he was targeting (NYSE:) Co.

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, futures, indexes or Forex. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. Because prices might not reflect the market, they may be incorrect. This means that prices cannot be considered indicative and are inappropriate for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]