A U.S. Food and Drug Administration chemist and his son accused of making millions of dollars with inside information about drug approvals are close to reaching plea agreements, according to court papers. Federal prosecutors charged Cheng Yi Liang and his son Andrew in March with conspiracy, securities fraud and wire fraud for making $2.27 million in trades involving five pharmaceutical companies between November 2007 and March 2011. Securities regulators said there were more trades and that the father reaped more than $3.77 million in profits and avoided losses.
