FDA Chemist Gets Five Years in Prison for Insider Trading
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A U.S. Food and Drug Administration chemist was sentenced to five years in prison for using his access to the agency’s drug-approval process to make $3.78 million in an insider-trading scheme.
Cheng Yi Liang, who worked for the FDA’s Center for Drug Evaluation and Research, was sentenced today by U.S. District Judge Deborah Chasanow in Greenbelt, Maryland, after pleading guilty last year to one count of securities fraud and one count of making false statements.