2 Former JHL Biotech Execs Sentenced
A California federal judge has sentenced the former CEO and COO of JHL Biotech for their roles in conspiring to commit trade secret theft and wire fraud. Former CEO Racho Jordanov was sentenced to 12 months and one day in prison and 36 months of supervised release, including nine months of home confinement. Former COO Rose Lin was sentenced to 12 months and one day in prison followed by 36 months of supervised release.
A Department of Justice statement says the two pleaded guilty 8/24/21 as part of a plea agreement. The government says that between 2011 and 2019 Jordanov obtained confidential and proprietary documents from Genentech and used them to accelerate the timeline for and to reduce the costs of JHL’s development and production of Genentech biosimilars.
The statement details a lengthy overview of the steps the two took using the Genentech materials.