NEWARK, N.J. — A New Jersey man is facing federal charges for allegedly selling trade secrets while working for a company that distributes “As Seen On TV” products.
Federal prosecutors say 37-year-old Ralph Mandil was charged with theft of trade secrets and wire fraud on Thursday. The charges carry a maximum sentence of 10 and 20 years in prison, respectively.
Authorities say Mandil offered to give up his employer’s business information to federal agents posing as New Jersey-based market competitors between Aug. 1 and Oct. 12.
They say Mandil provided the agents with samples of information worth tens of millions of dollars in revenue that he was willing to steal for them. He reportedly accepted $10,000 for the secrets.
Mandil was scheduled to make an initial court appearance on Thursday.