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Founders of Taiwan biotech startup Eden Biologics sentenced to a year in prison for stealing trade secrets from Genentech and $101 million in wire fraud

April 2, 2022
Source: techstartups.com techstartups.com
News Snapshot:
Founders of a Taiwan biotech startup were sentenced to over a year in prison each on Tuesday for plotting to steal trade secrets from Genentech in a $101 million scheme, the US Department of Justice (DOJ) announced. Racho Jordanov, former CEO, and former chief operating officer Rose Lin were both the co-founder of JHL Biotech (later known as Eden Biologics) pleaded guilty last year to conspiracy to commit trade secret theft and wire fraud in the amount of $101 million. In a ruling by Senior U.S. District Judge William Alsup at San Francisco federal court, Jordanov was sentenced to a...
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