prediwave.jpgNotable story in the NYT last week about how Fremont video-on-demand company, Prediwave swallowed $700 million in investments from China’s New World Development, and how NWD is now suing. In most cases, investors here have been scathing of China’s refusal to protect intellectual property (indeed, during our Silicom Ventures panel last week, it was Navin Chaddha, of Gabriel Venture Partners, who stole the show, in passion at least, on exactly this theme). But here’s a case where China is coming after a U.S. company, albeit not for IP infringement:

It will be the first time, experts say, that allegations on this scale of fraud and misappropriation of funds involving China’s exploding economy will be presented in a United States courtroom.