The suspects were indicted in a federal court in the United States for conspiracy and economic espionage related to marine technology, in order to benefit the Chinese regime and its state enterprises. Shan Shi, 53, and Gang Liu, 32, were singled out as the main organizers of a plan to steal trade secrets from a multinational engineering company that develops syntactic foam, a lightweight material that keeps objects afloat in deep water, used for military and commercial purposes, and even in offshore oil companies.
The US Department of Justice UU announced on April 27 that Shi, Liu and four others were formally charged in June 2017 on charges of conspiracy to steal trade secrets.
A new legal cause adds the charge of conspiracy in economic espionage to both Shi and Liu, and the charge of money laundering for Shi.
The defendants conspired to transmit trade secrets to a company in mainland China, called CBM-Future New Material Science and Technology Co. (CBMF), based in the city of Taizhou, in the coastal province of Zhejiang, which eventually built a factory to produce syntactic foam with stolen technology from the multinational company.