Federal Grand Jury Indicts Pennsylvania Man For Defrauding NIH Of $16M In Federal Grant Funds; Hoau-Yan Wang Allegedly Fabricated Scientific Data In Grant Applications For Alzheimer's Research; Charged With Major Fraud, Wire Fraud, And False Statements; Faces Up To 55 Years In Prison If Convicted
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A federal grand jury has indicted Hoau-Yan Wang, a Pennsylvania man, for defrauding the NIH of $16 million in federal grant funds by allegedly fabricating scientific data in grant applications for Alzheimer's research. Wang faces charges of major fraud, wire fraud, and false statements, and could face up to 55 years in prison if convicted.
June 28, 2024 | 5:25 pm
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Cassava Sciences (SAVA) may be indirectly impacted by the indictment of Hoau-Yan Wang for fabricating data in Alzheimer's research grant applications. This could raise scrutiny on Alzheimer's research funding and affect companies in this sector.
The indictment of Hoau-Yan Wang for fabricating data in Alzheimer's research could lead to increased scrutiny and regulatory oversight in the sector. As a company involved in Alzheimer's research, Cassava Sciences (SAVA) may face indirect negative impacts.
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