Ex-FDA Chemist Gets 5 Years For Insider Trading

Law360, New York (March 5, 2012, 6:22 PM EST) -- A former U.S. Food and Drug Administration chemist was sentenced Monday to five years in prison for trading on private information about companies with pending drug applications to the tune of $3.7 million.

Cheng Yi Liang, who pled guilty Oct. 18 to one count each of securities fraud and making false statements, also received three years of supervised release as part of the sentence. Liang was previously ordered to forfeit $3.7 million in the criminal case under a plea agreement.

“Today’s sentence shows that easy money...
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