ATLANTA — A Fulton County Grand Jury returned an indictment against former Georgia Institute of Technology (Georgia Tech) professor Joy Laskar on two counts of Racketeering for engaging in a scheme which resulted in the theft of over $1 million from the school.

Attorney General Sam Olens’ Office reports that Laskar was the director of the Georgia Electronic Design Center (GTRC) at Georgia Tech. He formed a private company, Sayana Wireless, LLC, in June 2006 and obtained a license agreement between the GTRC and Sayana for the development of wireless technology.

The indictment alleges that after entering into the agreement, Laskar used Georgia Tech resources to purchase approximately $1,000,000 worth of computer chips from CMP, a French microchip fabricator, to benefit Sayana. Additionally, Laskar is accused of using Georgia Tech’s facilities, equipment, personnel, students and resources to conduct Sayana’s day-to-day business activities in defiance of Georgia Tech’s policies and procedures. The alleged activity took place between June 27, 2006, and June 24, 2011.

Racketeering is punishable by ten to 40 years and/or a fine of up to $100,000 on each count or three times the amount stolen.

Senior Assistant Attorney General David McLaughlin is prosecuting the case on behalf of the state of Georgia. The case was investigated by the Georgia Bureau of Investigation and Georgia Tech Department of Internal Auditing.