FDA Scientist Sentenced To 5 Years For Inside Trading

A former FDA scientist has been sentenced to five years in prison. Cheng Yi Liang, a chemist from Gaithersburg, Md., pleaded guilty in October to securities fraud. Trading occurred while Liang worked at FDA's Office of New Drug Quality Assessment. He was ordered to forfeit $3.7 million in trading profits. Federal prosecutors say Liang regularly accessed an FDA system containing drug approval applications. He used the information on pending approvals to make bets on drug company stocks.