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DOJ Charges Four In Brazen Scheme To Sell Qualcomm IP It Already Owned

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The four face charges of fraud and money laundering, but this is not an average case of duping the buyer.
The Department of Justice (DOJ) has charged four individuals for selling a startup to a San Diego company for $150 million. The four are facing charges of fraud and money laundering, but this is not an average case of duping the buyer While the DOJ release does not name the victim company, all signs point to Qualcomm . The DOJ release names Karim Arabi as one of the defendants. Arabi served as the Vice President of Research and Development at Qualcomm before his 2016 departure.The indictment alleges the scheme revolved around a startup Arabi was involved with called Abreezio LLC. Arabi hid his involvement in the startup while at Qualcomm, while simultaneously using his privileged position at Qualcomm to pass information to Abreezio.Qualcomm acquired Abreezio in October of 2015 for $150 million. The deal included a statement that Abreezio was the sole and exclusive owner of its technology and that everyone involved with its creation had been disclosed.

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