Six former and current engineers for German chemicals giant BASF have been arrested in Taiwan on suspicion of leaking valuable technology to a competitor in China, authorities said on Monday.
Taiwan’s Criminal Investigation Bureau (CIB) released a statement saying the suspects were involved in a plot “to leak crucial technology and manufacturing processes... To make illegal profits”.
An official with knowledge of the investigation said the group allegedly sold the trade secrets to Jiangyin Jianghua Microelectronics Materials, a tech company based in China’s eastern Jiangsu province, pocketing USD 1.3 million.
“The technology involved in the case has an estimated market value of 100 million euros ($114 million) although the suspects were caught before they could sell the most confidential information,” the official, who asked not to be named, told AFP.
The CIB did not provide a breakdown of how many suspects were working for BASF at the time of the arrests but they said they included “high ranking” officials.