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AMD employee charged with theft of trade secrets

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Posted November 7, 2008 by admin in News

Pani was hit Wednesday with four new counts after being initially charged on Aug. 28 with one count of theft of trade secrets.

According to the indictment, Pani gave notice to leave Intel (Nasdaq: INTC) and told his superiors he was using up about a week of vacation while looking for a job at a hedge fund.

In reality, according to the indictment, he had taken a job at Intel rival Advanced Micro Devices (NYSE: AMD) and, while using up vacation time at Intel, was downloading valuable trade secrets.

Over four days, the government alleges, he took information Intel characterized as ?top secret.?

When the FBI searched Pani?s house on July 1, agents allegedly found eight documents described by Intel as ?confidential,? ?secret? or ?top secret.?

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