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Former Valspar employee accused of data theft

A former Valspar chemist was arrested last week for allegedly stealing trade secrets from the paint maker before taking a new job with a Chinese company in the same line of business, Bloomberg reports.

The former employee, David Yen Lee, 52, resigned from Valspar on March 16. According to investigators, he loaded a thumb drive with Valspar data before leaving.

Valspar is based in Minneapolis, but Lee worked out of an office in Arlington Heights, Ill., in suburban Chicago. He faces up to 10 years in prison and a $250,000 fine if convicted. He’s being held in custody until an April 2 bond hearing.

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