Samsung, SK Hynix Shares Surge on Report of Potential Temasek Investment 
Austal Shares Surge 16% as Hanwha Offers Up to $1.2 Billion for U.S. Shipbuilding Business 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
Nvidia Secures $500 Billion AI Infrastructure Push With Wall Street Giants 
JPMorgan Plans More Asia-Pacific Hiring in 2027 as Corporate Banking Revenue Surges 
Hanwha Offers Up to $1.2 Billion for Austal US Business 
Maersk Raises 2026 Earnings Outlook as Shipping Profits Beat Expectations 
Paramount Weighs CNN Sale as $110B Warner Bros. Discovery Deal Faces Antitrust Fight 
SpaceX Shares Surge as Wall Street Backs AI Growth Potential 
ASX Faces Legal Action Over Failed Blockchain CHESS Project 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
Trump Media Says Truth API Draws 10+ Customers as Conflict Concerns Grow 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
OpenAI Executive Brad Lightcap to Leave for New AI Venture 
Lenovo Revenue Surges 43% as AI Demand Drives Record First-Quarter Growth 
Pandora Shares Rise as Q2 Results Beat Forecasts, 2026 Outlook Raised 
Add as a preferred source on Google
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.
