One of three men involved in a scheme that led Qualcomm to pay over $150 million for tech it already owned pleaded guilty to a related charge,
Sanjiv Taneja, one of three men indicted last year after ripping off chipmaker Qualcomm for more than $150 million, and the former CEO of a startup company named Abreezio, pleaded guilty last Thursday to one count of money laundering involving a $1.5 million transaction. The funds were related to the $150 million that Taneja and the other defendants conned out of Qualcomm.
But Taneja admitted in the plea agreement that he and his co-defendants decided they wanted to personally profit from the invention instead of turning it over to Qualcomm. So they came up with a plan to hide Arabi's involvement in Abreezio that tricked Qualcomm into believing that the startup owned the technology that technically belonged to the chipmaker.
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