Wednesday, July 16, 2014

Former employee jailed for theft of company secrets

James Watchom was sentenced in New Plymouth to 30 months jail on three counts of accessing a computer for dishonest purposes after he had stolen geotechnical data from Tag Oil (NZ) Limited in June 2012. Watchom later left Tag Oil to work for a direct competitor, New Zealand Energy Corp.

Stolen information included Tag's methodology for locating oil and gas fields and "was worth millions to NZEC."

While Police found the data on Watchom's work and home computers, there was no evidence that he had provided that information to NZEC. The judge stated that although no dissemination was found, this was "significant offending".

Bail was declined.

Read the full story on Stuff.