October 14, 2016

In the News: DRTV Thief Busted

Federal authorities arrested an employee of an unnamed DRTV company Thursday for allegedly selling trade secrets, according to the US attorney's office in New Jersey. As explained in a press release:

Ralph Mandil, 37, of West Long Branch, New Jersey, was arrested by special agents of the FBI following a two-month sting operation in which he offered to sell to undercover agents inside information about his employer’s business. He is charged by complaint with one count of theft of trade secrets and one count of wire fraud ...

Between Aug. 1, 2016, and Oct. 12, 2016, Mandil allegedly exchanged emails, phone calls and held meetings with people he believed were representatives of a New Jersey-based competitor of Victim 1. The individuals he was communicating with were, in fact, government agents outfitted with audio/video recording devices.

Throughout those communications, Mandil allegedly offered to provide the agents with proprietary trade secrets belonging to Victim 1, including unreleased product names, specifications, artwork, advertising, market data, manufacturing and other information, in addition to providing them with access to Victim 1’s “drop box,” or cloud storage account, in exchange for $197,500.

Mandil faces up to 10 years in prison for the theft of trade secrets charge and up to 20 years in prison for the wire fraud charge.

I asked Telebrands President AJ Khubani to comment on the news. "Hopefully this will make people in our industry think twice about sharing valuable trade secrets," he said.

No comments:

Post a Comment