Bristol-Myers-Squibb trade secrets stolen

Feb. 3, 2010 at 7:07 PM
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SYRACUSE, N.Y., Feb. 3 (UPI) -- A Bristol-Myers-Squibb Co. employee has been charged with stealing trade secrets from the U.S. pharmaceutical company, federal officials said Wednesday.

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.

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