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France is investigating suspected smuggling to China and Russia of advanced chip technology

French magistrates have filed preliminary charges against two Chinese citizens and two other people from France in an investigation of a leading chip supplier whose advanced technology with possible military uses was reportedly smuggled to China and Russia, allegedly skirting sanctions and export controls.

The probe of #Ommic, a Paris-region semiconductor manufacturer now in American hands, was launched by France’s national prosecution service that specializes in cases involving arms proliferation.

The newspaper Le Parisien first reported on the case. It said investigators have uncovered nearly 12 million euros (more than $13 million) worth of suspected exports of technology.
It said the company’s French manager is suspected of having personally delivered chips to Russian clients. It said products were also exported to Chinese armament manufacturers with the help of forged paperwork.

The newspaper said a Beijing-based Chinese businessman with ties to China’s defense industry bought a majority stake and took control of Ommic in 2018.

France’s counter-espionage agency suspects the Chinese investor was seeking to transfer French technology to China, notably a semiconductor manufacturing process that Ommic specializes in, the newspaper said.

Source: AP News #Jul28

https://apnews.com/article/france-china-russia-chip-technology-smuggling-66a8a4edcaf7137e109a16d6d300cd94

#China #IndustrialEspionage #TechnologyTheft



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France is investigating suspected smuggling to China and Russia of advanced chip technology

French magistrates have filed preliminary charges against two Chinese citizens and two other people from France in an investigation of a leading chip supplier whose advanced technology with possible military uses was reportedly smuggled to China and Russia, allegedly skirting sanctions and export controls.

The probe of #Ommic, a Paris-region semiconductor manufacturer now in American hands, was launched by France’s national prosecution service that specializes in cases involving arms proliferation.

The newspaper Le Parisien first reported on the case. It said investigators have uncovered nearly 12 million euros (more than $13 million) worth of suspected exports of technology.
It said the company’s French manager is suspected of having personally delivered chips to Russian clients. It said products were also exported to Chinese armament manufacturers with the help of forged paperwork.

The newspaper said a Beijing-based Chinese businessman with ties to China’s defense industry bought a majority stake and took control of Ommic in 2018.

France’s counter-espionage agency suspects the Chinese investor was seeking to transfer French technology to China, notably a semiconductor manufacturing process that Ommic specializes in, the newspaper said.

Source: AP News #Jul28

https://apnews.com/article/france-china-russia-chip-technology-smuggling-66a8a4edcaf7137e109a16d6d300cd94

#China #IndustrialEspionage #TechnologyTheft

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The lead from Wall Street offers little clarity as the major averages opened lower on Friday and then bounced back and forth across the unchanged line, finally finishing mixed and little changed.The Dow added 33.18 points or 0.10 percent to finish at 34,798.00, while the NASDAQ eased 4.54 points or 0.03 percent to close at 15,047.70 and the S&P 500 rose 6.50 points or 0.15 percent to end at 4,455.48. For the week, the Dow rose 0.6 percent, the NASDAQ added 0.1 percent and the S&P gained 0.5 percent.The lackluster performance on Wall Street came on uncertainty about the outlook for the markets following recent volatility.

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