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Market Chatter: Former ASML Employee Reportedly Accused of Selling Chip Trade Secrets to Russia
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Market Chatter: Former ASML Employee Reportedly Accused of Selling Chip Trade Secrets to Russia
Dec 9, 2024 8:27 AM

11:07 AM EST, 12/09/2024 (MT Newswires) -- A former ASML (ASML) employee has been accused by the Dutch government of selling the semiconductor equipment manufacturer's trade secrets to Russian companies in violation of international sanctions, Bloomberg reported Monday.

The 43-year-old man originally from Russia was charged during a court hearing Monday in Rotterdam, according to the report. The suspect allegedly planned to start a chip factory in Russia and has been exchanging ASML documents and other classified information with Moscow since November 2015, a public prosecutor said at the hearing.

The suspect has been detained in the Netherlands since August, the report said.

ASML did not immediately respond to a message seeking comment from MT Newswires Monday. The Bloomberg report cited an ASML spokesperson saying the company does not comment on ongoing court cases, and lawyers representing the former staffer as declining to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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