Federal Indictments Handed Down Over Trade Secrets In Genentech Case
Former Genentech scientist Xanthe Lam and her husband Allen Lam conspired to steal confidential, proprietary and trade secret information from Genentech. That’s according to an announcement from Stephanie Hinds, acting U.S. Attorney for the Northern District of California.
In their pleas, the Lams say that beginning in 2009 they shared that stolen data with JHL Biotech Inc., a startup now called Eden Biologics Inc.. A federal grand jury has indicted the co-founders of that organization as well on charges ranging from conspiracy to steal trade secrets to international money laundering.
The indictment also alleges that JHL Biotech’s founders used the stolen information to defraud investors of more than $100 million. The convictions and charges come at the end of a three year joint-investigation by the FBI and IRS.