Fed: Chemours ex-worker tried to sell trade secrets to China

DOVER, Del. — Federal prosecutors say a former employee of a chemical company that spun off from the DuPont Co. in 2015 has been charged with conspiring to steal trade secrets and sell them to Chinese investors.

An indictment unsealed this week accuses Chemours Co. ex-worker Jerry Jindong Xu of trying to steal information about sodium cyanide, a chemical used in mining. Chemours is the world's largest producer of sodium cyanide.

Arrested in New York in August, Xu remained in federal custody following a sealed bail hearing Tuesday. He faces up to 10 years in prison if convicted.

Authorities say Xu was aided by an unnamed co-conspirator, a longtime DuPont employee who left the company in 2014 to open a mining consulting business.

Xu's lawyer didn't respond Thursday to an email seeking comment.

Related News

Stocks rise as US jobs report puts Fed rate hike in question

Sep 2, 2016

Stock rose and the dollar fell on Friday after a key report showed the U.S. economy added slightly fewer jobs than expected in August, making it potentially less likely that the Federal Reserve will raise interest rates already this month

The Latest: Vatican expands criticism of Trump's travel ban

Feb 1, 2017

The Latest: Vatican criticizes Trump's travel ban, newspaper says walls, travel bans go against American interest

GOP plan to slash legal immigration wins Trump's support

Aug 3, 2017

Trump embraces Republican legislation that would dramatically reduce legal immigration and shift the nation toward a system that prioritizes merit and skill over family ties

You may also like these

Stocks rise as US jobs report puts Fed rate hike in question

Sep 2, 2016

Stock rose and the dollar fell on Friday after a key report showed the U.S. economy added slightly fewer jobs than expected in August, making it potentially less likely that the Federal Reserve will raise interest rates already this month

The Latest: Vatican expands criticism of Trump's travel ban

Feb 1, 2017

The Latest: Vatican criticizes Trump's travel ban, newspaper says walls, travel bans go against American interest

GOP plan to slash legal immigration wins Trump's support

Aug 3, 2017

Trump embraces Republican legislation that would dramatically reduce legal immigration and shift the nation toward a system that prioritizes merit and skill over family ties

Financial Markets

The Financial Capital is your independent source for finance information and advice. We provide insights and offer advice from financial experts so you can make the best decisions.

Contact us: sales@thefinecapital.com

Corporate NewsEconomyFinancial MarketsGovernment Business & FinanceFinancial ServicesPersonal Finance Press Broaden