A chemist for the U.S. Food and Drug Administration was arrested Tuesday and charged with insider trading in the stock of 19 drug makers, including Irvine-based Spectrum Pharmaceuticals.
The scientist, Cheng Yi Liang, 57, of Gaithersburg, Maryland, allegedly used his confidential advance knowledge of agency decisions to buy stock in companies ahead of FDA drug approvals and to short stock ahead of denials.
‘Enforcement 40’ for 2020
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