SAVA accused of fraud with falsifying Alzheimers research data, stock down 25% so far on the news

- Hoau-Yan Wang, a tenured medical professor and consultant to a publicly traded biopharmaceutical company, has been charged for defrauding the U.S. National Institutes of Health (NIH) of approximately $16 million in federal grant funds - Wang allegedly fabricated and falsified scientific data in grant applications for research on potential treatments for Alzheimer's disease - The fraudulent scheme resulted in the award of $16 million in grants from 2017 to 2021 - Wang faces charges of major fraud against the United States, wire fraud, and false statements, with potential prison sentences of up to 20 years - The FBI Washington Field Office is investigating the case and prosecutors from the Criminal Division's Fraud Section are handling the case.