U.S. Attorney Richard S. Hartunian and FBI Special Agent in Charge John Pikus said in a release Shalin Jhaveri, 29, of Syracuse, N.Y. was arrested and charged with stealing trade secrets and proprietary information. Jhaveri was ordered held without bail pending a detention hearing Monday in Syracuse.
The charges carry a maximum penalty of 10 years in prison and a $250,000 fine.
Jhaveri was employed by Bristol-Myers-Squibb as a technical operations associate from November 2007 until he was fired Tuesday. He allegedly stole numerous trade secrets while scheming to establish a pharmaceutical business in his native India to compete with Bristol-Myers-Squibb in various markets around the world, officials said.