Xiang Dong Yu was a 10 year veteran of Ford Motor Company (NYSE:F). Yu recently pleaded guilty in federal court on November 17 to charges that he had stolen $50 million in company secrets. This includes design documents. He then sold the company secrets to a U.S. rival of Ford.

Xiang Dong (Mike) Yu is a Chinese employee that worked at Ford Motor Company for about 10 years (1997-2007). Before he left the company, Yu is believed to have stolen about 4,000 confidential documents. Yu has recently been indicted for the crime.

When Yu left Ford, he accepted a job with Foxconn PCE Industry Inc. and possibly passed some of the documents over. Some of the documents were related to system design specifications for Engine/Transmission Mounting Subsystems, Electric Power Supplies, Generic Body Modules, etc. Yu is also believed to have sold the documents to a Chinese automotive company. Yu was arrested at the Chicago O’Hare airport when he exited a flight from China.

Each count could be worth up to a decade in prison. He may also be fined $250,000.