Monday, October 23, 2006, 10/23/2006 02:59:00 PM

Two Coke Trade Secrets Defendants Plead Guilty

By Todd
CNNMoney.com is reporting that "two men pleaded guilty Monday to stealing trade secrets from soft drink giant Coca-Cola. The men, who were not employees of Coca-Cola, were indicted July 12 along with a former Coke employee on charges that they conspired to steal trade secrets from the soft-drink giant and sell them to rival Pepsi for $1.5 million. Ibrahim Dimson, 30, of New York, and Edmund Duhaney, 43, of the Atlanta suburb of Decatur, were also charged with unlawfully replicating and transmitting trade secrets and receiving and possessing trade secrets. Sentencing for the men was set for Jan. 29. Each could receive a maximum sentence of 10 years in prison and a fine of up to $250,000. Coke employee Joya Williams, 41, of Atlanta, has entered a not guilty plea to the grand jury's indictment. She remains free on a $25,000 bond awaiting trial set for Nov. 13."

We've been watching this case closely since the indictments came down on July 12th. Ms. Williams, the only one of the defendants who was an insider at Coca-Cola, certainly cannot be pleased with the news that her alleged co-conspirators have plead guilty. Although she is currently awaiting trial set for November 13th, one wonders whether these pleas will force her into a plea of her own.

We'll announce any further developments.

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