Key Changes, Shifts & Surprises in Trade This Year! From tariff updates to trade policy shifts, 2025 has been a year full of change. In the first session of our webinar series, we’ll take a look back at what shaped…
Justice: Florida Man Sentenced for $5M Biochemical Wire Fraud Scheme
Justice: Florida Man Sentenced for $5M Biochemical Wire Fraud Scheme
August 7, 2024/
Pen Yu was sentenced in Tampa to three years, eight months in federal prison for conspiracy to commit wire fraud. He ordered biochemical products from Millipore Sigma (subsidiary of Merck), falsely representing that he was affiliated with a Florida university's research lab. He got nearly $5 million in discounts and other benefits not available to the public. The products were shipped to the university stockroom, where an employee held them for Yu, who then repackaged them and sent them to China. Millipore's compliance personnel ID'd suspicious orders, which led to the discovery of the scheme.
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