The Securities and Exchange Commission filed civil charges against Cheng YiLiang, 57, an FDA employee since 1996, alleging he illegally traded in advance of at least 27 different FDA announcements involving 19 publicly traded companies.
In one case, for instance, an FDA chemist named Cheng YiLiang was charged by the US Securities and Exchange Commission with insider trading on confidential info about upcoming announcements of 27 different FDA approval decisions involving 19 publicly traded companies.