Two California residents who co-founded a biopharmaceutical company in Taiwan were sentenced to just over a year in prison on Tuesday for wire fraud and stealing trade secrets from another company to gain a competitive advantage, officials said.
Rose Lin, also known as Rose Sweihorn Tong, 73, of South San Francisco, and Raco “Racho” Ivanov Jordanov, 74, of Rancho Santa Fe, co-founded JHL Biotech, Inc. in Taiwan in 2012 and were COO and CEO. of the company, respectively. Prosecutors said that between 2011 and 2019, they obtained or authorized and encouraged their employees to obtain and use confidential and proprietary information from Genentech, an American biotech company headquartered in south San Francisco. , in an effort to reduce costs and meet certain regulatory requirements, according to the United States Attorney’s Office for the Northern District of California.