Ramkumar Rayapureddy, the chief information officer of drugmaker Mylan N.V., has been charged with one count of conspiracy to commit securities fraud and three counts of securities fraud, the Department of Justice said Thursday.
Rayapureddy allegedly conspired with Dayakar Mallu, a former colleague, to execute trades in the company’s securities using nonpublic inside information concerning Food and Drug Administration drug approvals and financial earnings, the DOJ said.
If convicted, Rayapureddy could receive a maximum penalty of 20 years in prison for each of the securities fraud charges and five years in prison for the conspiracy charge, the DOJ said.
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