FDA chemist pleads guilty to pharma stock scam

posted by
October 19, 2011
Christian Science Monitor    
Posted in News, PND News

"A Food and Drug Administration chemist pleaded guilty on Tuesday to using confidential government information about pending FDA drug approvals to make millions in profits by trading pharmaceutical company stocks. Cheng Yi Liang of Gaithersburg, Md., admitted in federal court that he carried out a $3.7 million insider-trading scam from July 2006 to March 2011. He used his access to the FDA’s password-protected computerized tracking system for new drug applications." (10/18/11)


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