A Chinese national has been indicted for allegedly stealing his employer’s trade secrets and using them to establish his own company in China, the U.S. Attorney’s Office for the District of Massachusetts announced on Oct. 31.
Xiao Zhang, 33, of Shanghai, was indicted by a federal grand jury in Boston on one count of theft of trade secrets. Currently, Zhang remains at large overseas.
According to the indictment, Zhang began working for a global investment management company in Massachusetts in July 2015, holding the position as an associate in the company’s research division.
The indictment did not name the company but said it used forecasting models to assist investors in choosing investments “that will outperform the market.”…