Securities Law

FDA Chemist Charged in $2.27M Insider Trading Case, Allegedly Used Password-Protected Gov't Site

A chemist for the Food and Drug Administration and his son are accused of reaping $2.27 million in illegal profits from an insider-trading scheme that allegedly used information from a password-protected FDA site concerning pending drug applications.

Cheng Yi Liang, 57, and his son, Andrew, 25, face criminal conspiracy charges in federal court in Greenbelt, Md., according to the Associated Press.

An FBI press release provides further details about the case, as well as a related federal civil asset-forfeiture complaint that was filed in the District of Maryland.

Feds Ponder Possible Manslaughter and Perjury Charges in Gulf Oil Spill Case, Sources Tell AP

Police in Fla. Town Use Email and Skype to Obtain Warrants While Still on the Scene

We welcome your comments, but please adhere to our comment policy. Flag comment for moderator.

Commenting is not available in this channel entry.