A Cree employee was arrested on June 18th on charges of larceny for the alleged theft of trade secrets, according to a report from News Observer. Cree accused the employee, Coy Brevard Bell, a 47-year-old Cree staffer of stealing trade secrets that the company says are worth more than $100 million.
The investigation into the alleged theft began when another Cree employee found a microSD card on the ground on or near the sidewalk around Cree campus. Such memory devices are typically not permitted on the campus for security reasons. Subsequently, on July 6th, Detective R. Hooks of the Durham County Shariff office procured a search warrant.
The article cited the Hook’s probable-cause (search warrant) affidavit that told Superior Court Judge Jim Hardin that investigators believe that it’s “doubtful that Mr. Bell could have single-handedly utilized the information for personal gain.” And it is, therefore, “probable that he conspired with another entity, business or government,” Hooks said.
Bell posted the $150,000 bail. Bell’s lawyer asserts that the arrest was a “misunderstanding” and that Bell has been a long-time loyal employee. The next scheduled court date for the case is in September.