A former engineer from Intel, Biswamohan Pani, has been accused of stealing $1 billion worth of trade secrets for rival AMD while on the payroll of both companies. When he resigned from Intel, Pani told supervisors that he was going to work for a hedge fund; instead, he alledgedly began stealing confidential docs from Intel’s computers in order to “advance his career at AMD or elsewhere by drawing on it when the opportunity arose.”

For his part, Pani claims the information was for his wife who also works for Intel. AMD has been cooperating with investigators, and has been cleared of all charges. Pani faces up to 10 years in prison for theft and up to 20 years for the charge of wire fraud.

[CNN Money] Ex-Intel engineer accused of stealing secrets