• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Ex-FDA chemist faces up to 20 years after guilty plea

Ex-FDA chemist faces up to 20 years after guilty plea

October 19, 2011 By MassDevice staff

FDA

A former FDA chemist pleaded guilty to charges that he tapped a confidential database to glean inside information that led to nearly $3.8 million in illicit stock trades.

Cheng Yi Liang admitted to using the database of new drug applications to suss out drugs that were about to be approved. Liang would then buy shares in the company that makes the drug, selling his stake after share prices jumped on news of FDA approval.

Liang, 57, pleaded guilty to one count of insider trading, which carries maximum penalties of 20 years in prison and a $5 million fine, and to a second count of making a false statement with a maximum 1-year prison sentence and more fines. He also agreed to forfeit his illegal gains from the stock trades (PDF).

Sign up to get our free newsletters delivered right to your inbox

Liang’s son Andrew Liang was also charged in the scheme, but the insider trading charges were dropped after the younger Liang pleaded guilty to child pornography charges, according to The Associated Press.

In one trade cited by prosecutors, Liang bought up 46,875 shares of
Clinical Data Inc. stock, selling the shares after the FDA announced approval of the antidepressant drug Viibryd Jan. 21. Liang pulled down $384,300 when he sold his stake Jan. 24, according to court documents.

Filed Under: Food & Drug Administration (FDA), Legal News, News Well Tagged With: Clinical Data Inc.

More recent news

  • Comphya raises CHF 7.5 million for neurostim to treat ED
  • Fujifilm launches intelligent automation features for digital radiography
  • Integer appoints former iRhythm CEO to board
  • MMI debuts robotic surgery instruments, digital surgery platform
  • Synchrony Medical wins FDA nod for airway clearance system

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy