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$1 Billion Trade Secrets Stolen from Intel

Category: Manufacturers
Posted: 02:53PM

Let this be a lesson to all network and system administrators out there; if an employee resigns or is let go, disable their account access immediately. Intel learned that the hard way. Biswamohan Pani resigned from Intel Corporation in June of this year, but still had access to the company's computers and remained on its payroll as he burned unused vacation days. For four days, Pani illegally downloaded more than a dozen confidential documents from Intel, said to be worth more than $1 billion in research and development costs. In addition, during that time, Pani actually began work at Advanced Micro Devices Inc. There is no evidence, however, that AMD had any knowledge of Pani's actions and no case has been brought against the company. Pani, on the other hand, has been charged with one count of theft of trade secrets and four counts of wire fraud, which, if convicted on all counts, could result in several decades behind bars.

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