China-based Canadian man accused of selling trade secrets of electric vehicle company

News Snapshot:

American prosecutors say a Canadian living in China stole trade secrets from a leading U.S.-based electric vehicle company to set up a competing battery business. The U.S. Attorney’s Office in Brooklyn, N.Y., said Klaus Pflugbeil was arrested Tuesday after allegedly providing stolen trade secrets to an undercover agent who was posing as a business person. Pflugbeil had travelled to Long Island to meet with a group of business people “who in reality were undercover law enforcement agents,” American prosecutors said in a statement released Tuesday. “As alleged, the defendants set up a company in China, blatantly stole trade secrets from...