California man smuggled $300 million in Nvidia chips to China, prosecutors say
Source: Business Insider ·
Prosecutors say Yiu Kong Lui conspired with foreign shipping companies to trick US manufacturers into selling him the chips.
From the source
Nvidia CEO Jensen Huang at the White House. Prosecutors charged a California man with helping to smuggle $300 million worth of Nvidia chips to China.Bloomberg/Getty ImagesProsecutors allege that a California man helped smuggle $300 million in Nvidia chips to China.It is illegal to export advanced semiconductor chips into China without a license.Prosecutors say Yiu Kong Lui conspired with foreign shipping companies to trick US manufacturers.A California man is facing federal charges for helping smuggle over $300 million worth of Nvidia semiconductor chips into China, prosecutors said this week.Yiu Kong Lui, 38, of San Gabriel, Cali., was arrested on Thursday and is set to be arraigned in federal court and charged with violating export controls, smuggling, and money laundering, court records show.It is illegal to export advanced semiconductor chips into China without a license, as the US competes with the East Asian giant in the AI race.President Donald Trump drew criticism last year…