China's rare earth tech obsession ensnares US resident as CCP looks to maintain stranglehold
Fox News
Vietnamese entrepreneur Luu Anh Tuan was arrested while attempting to transfer rare earth separation technology to the U.S., potentially disrupting China's monopoly.
In July 2023, he signed a technology transfer agreement, seen by Fox News Digital, to bring the heavy rare earth separation technology he was using at his Vietnam-based company, Vietnam Rare Earth (VTRE) to VTRU Corporation, a company registered in Nevada. VTRE had also signed a series of memoranda of understanding (MOU) agreements with Western companies.
"He had a bad sense of insecurity about being in Vietnam. He was determined to transfer his technology to the US as quickly as possible," a source familiar with the rare earth industry, granted anonymity to speak without fear of retribution, told Fox News Digital.
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