UMC has pleaded guilty to stealing trade secrets from Micron

UMC has pleaded guilty to stealing trade secrets from Micron

Taiwanese chip maker United Microelectronics Corp (UMC) has said it will plead guilty to theft of trade secrets in the United States, pay a $ 60 million fine, and cooperate with authorities to prosecute Fujian Jinhua Integrated Circuit Co Ltd.

The plea came more than two years after the US Department of Justice indicted the Taiwanese chipmaker Fujian and three individuals with conspiracy to steal and transfer trade secrets to the American company Micron Technology.

The United States claims that the state-owned Chinese company Fujian used these secrets to develop memory chips. Fujian denies these charges.

Micron banned from selling products in China

The source clarifies that the UMC company has pleaded guilty to only one count – in receiving and keeping a stolen commercial secret. However, UMC continues to insist that it did not share Micron’s secrets or any other information from third parties to Fujian.

As part of the plea deal, the Justice Department will drop the charges against UMC, including conspiracy to commit economic espionage, and withdraw the relevant civil case. The Taiwanese company will also be subject to a three-year “unsupervised trial period.”

UMC has pleaded guilty to stealing trade secrets from Micron

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