Founders of Taiwanese biotech involved in stealing Genentech secrets plead guilty to conspiracy
After an indictment was unsealed against them last month, two individuals at the heart of a conspiracy case involving stolen Genentech IP are now saying: We did it.
Two co-founders of the Taiwanese company JHL Biotech pleaded guilty to conspiracy to commit trade secret theft and wire fraud, the Department of Justice announced last Thursday. According to their plea agreements, Racho Jordanov and Rose Lin knowingly and unlawfully paid for and obtained confidential Genentech information to speed along their development of biosimilars and defraud investors, mainly Sanofi, of $101 million.
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