Biotech Firm Cofounders Convicted of Wire Fraud, Conspiracy

SAN FRANCISCO (BCN) -- The co-founders of JHL Biotech were convicted Thursday in federal court in San Francisco, after they pleaded guilty to conspiracy to commit trade secret theft and wire fraud.

Racho Jordanov, the co-founder and former chief executive officer of JHL Biotech, and Rose Lin, another of the company's co-founders and former chief operating officer, entered plea agreements to the court, admitting to taking confidential, proprietary and trade secret information from Genentech between 2011 and 2019 that they used to defraud investors of more than $100 million.

Jordanov, 73, of Rancho Santa Fe, Lin, also known as Rose Sweihorn Tong, 72, of South San Francisco, admitted to paying a Genentech employee to provide confidential information. That employee, Xanthe Lam, pleaded guilty in July to stealing confidential, proprietary and trade secret information from Genentech and giving it to JHL Biotech.

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