FDA CHEMIST ARRESTED- INSIDER TRADING

[James48843]

WASHINGTON (AP) -- A chemist with the Food and Drug Administration and his son were arrested Tuesday on charges of running a $2.27 million insider trading scheme.

Prosecutors say Cheng Yi Liang, 57, and his son, Andrew Liang, 25, used confidential information from a password-protected FDA tracking system to buy and trade the stocks of drug companies who had pending applications for products. Both were arrested Tuesday on charges including securities fraud and wire fraud and made an initial court appearance in U.S. District Court in Greenbelt, Md.

No insider trading!!!

Come on you guys- you KNOW that is a no-no.



More:

http://finance.yahoo.com/news/FDA-c...tml?x=0&sec=topStories&pos=main&asset=&ccode=

 

[Buster]

I wonder if they were also involved with Marijuana research too?