Chinese wind turbine maker Sinovel Wind Group Co was convicted on Wednesday of U.S. charges that it stole trade secrets from AMSC, causing the Massachusetts-based company to lose more than $800 million.
A federal jury in Madison, Wisconsin, found Sinovel, once AMSC’s largest customer, guilty on all charges it faced, including conspiracy, trade-secret theft and wire fraud, the U.S. Justice Department said.
The conviction exposes Beijing-based Sinovel to hundreds of millions of dollars in potential fines, according to the Justice Department. It is scheduled to be sentenced on June 4.
Meanwhile, WSJ reported that a top Trump administration official accused Beijing of serving up protectionism under the guise of free trade, adding tension to the World Economic Forum just days after the U.S. imposed broad tariffs on solar cells and washing machines.