Connect with us

West

Federal authorities file additional charges against Chinese-linked biolab in Central California

Published

on

Federal authorities file additional charges against Chinese-linked biolab in Central California

Federal authorities announced new charges against the operators of an illegal underground biolab found in a Central California community last fall.

Jia Bei Zhu, 62, a citizen of China, was previously indicted for distributing bogus and misbranded COVID-19 test kits in violation of the federal Food, Drug, and Cosmetic Act. He was also charged with making false statements to authorities about his identity and involvement with the biolabs.

Additional charges have now been filed against Zhaoyan Wang, 38, also a citizen of China, who officials described as a “romantic and business partner.”

According to court documents, from August 2020 through March 2023, Zhu and Wang conspired to defraud buyers of UMI and PBI’s COVID-19 test kits. They imported hundreds of thousands of COVID-19 test kits from Ai De Ltd., which was a company in China that they controlled, and falsely represented to the buyers that the test kits were made in the United States.

‘DISTURBING’ CALIFORNIA BIOLAB SHROUDED IN MYSTERY AS CHINA LINKS EMERGE

Advertisement

Additional charges have been filed against Jia Bei Zhu, 62, the operator of the Reedley Bio-Lab and his partner according to the United States Department of Justice. (KMPH)

Authorities said they illegally imported the COVID-19 test kits, which they were not approved to import, by falsely declaring them as pregnancy test kits, which they were approved to import.

Joe Prado, assistant director for the Fresno County of Public Health, previously told FOX 26 that the lab was using mice “to see whether or not the COVID test kits were actually testing for COVID.” 

Officials said Zhu and Wang also falsely represented to the buyers that UMI and PBI could make up to 100,000 COVID-19 test kits per week in the United States and that the test kits were made in connection with other labs that were certified by the Centers for Disease Control and Prevention. 

CLEANUP AT SUSPICIOUS CALIFORNIA BIOLAB WITH TIES TO CHINA CONTINUES

Advertisement
Lab equipment with labs and stickers written in Chinese.

Equipment with Mandarin writing in a biolab located in Fresno, California (City of Reedley)

Lastly, officials said they falsely represented to the buyers that the test kits were approved by the Food and Drug Administration (FDA). Zhu and Wang made over $1.7 million through their fraud.

When buyers requested to inspect the facilities in Fresno and Reedley, Zhu and Wang allegedly denied them access and made up reasons for the denial, including that the facilities were undergoing construction and renovation.

Upon inspection, health inspectors found nearly 1,000 lab mice, 200 of which were dead, inside the lab, according to FOX 26. Inspectors also found thousands of vials, some of which contained human blood and other substances. 

ILLEGAL CHINESE-LINKED BIOLAB FILLED WITH MICE, MEDICAL WASTE DISCOVERED IN CALIFORNIA

EPA contracted hazmat crew member

An EPA-contracted hazmat crew member goes inside the Reedley, Calif., warehouse to remove 800 containers of chemicals from the underground biolab. (Lee Ross)

The lab was shut down in early July.

Advertisement

Zhu was not tied to or charged with the slew of biological agents that were found in a previously empty warehouse.

Zhu’s next court date is Sept. 11. Wang is currently not in custody, and it’s unknown if she is even still in the country. 

If convicted, Zhu and Wang each face a maximum of 20 years in prison for the conspiracy and wire fraud charges and an additional three years in prison for the distribution of fake and misbranded medical device charges. Zhu also faces another five years in prison for the false statements charge.

Fox News Digital’s Bradford Betz contributed to this report.

Advertisement

Read the full article from Here

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

San Francisco, CA

Why tech workers no monolith in SF politics

Published

on

Why tech workers no monolith in SF politics


San Francisco has clearly become a tech town. But is there now a tech voting bloc in The City?

There are thousands of tech workers who live and work in San Francisco. Like other residents, many of them have become more politically active in recent years. Over that same period, tech moguls and political groups with tech-industry ties have flexed their muscles in local elections.

The Examiner is monitoring these political power blocs before the November election.






Current Y Combinator CEO Garry Tan, pictured during the opening day of Web Summit 2018 at the Altice Arena in Lisbon, Portugal, has emerged as a powerful influence in San Francisco politics.

Advertisement










Sachin Agarwal

Advertisement

Sachin Agarwal, one of the co-founders of Grow SF, pictured on Friday, July 30, 2021.




Newsom calls for public-school ban on cell-phone use

Some San Francisco schools go further than the current district policy and what the governor is proposing

Advertisement

Chinatown ready to heal 'restless spirits' at Hungry Ghost Festival

The City is gearing up to celebrate one of Chinese culture’s most historic traditions

Advertisement

First SF General mothers’ milk drive raises hospital supply twelvefold

New moms from around the Bay Area donated almost 12 times the hospital’s typical supply of breast milk, which is an essential resource for newborn babies to ensure bet…

Advertisement


Advertisement




Supervisor Hillary Ronen speaking about the San Francisco Reproductive Freedom Act

Supervisor Hillary Ronen speaking about the San Francisco Reproductive Freedom Act at Planned Parenthood in San Francisco on Tuesday, June 18, 2024.






Advertisement




A Waymo autonomous vehicle on Van Ness Avenue

A Waymo autonomous vehicle on Van Ness Avenue in San Francisco on Monday, June 10, 2024.






Source link

Continue Reading

Denver, CO

Improving Investor Behavior: Market forecasting is a loser’s game

Published

on

Improving Investor Behavior: Market forecasting is a loser’s game


It’s Friday, Aug. 2, and I’m writing this article with CNBC open on my browser. The headline shouts, “Dow Loses 750 Points, Nasdaq Enters Correction After Weak Jobs Report.” The week was rough, with markets retracting from what felt like a month of steady new highs. A scant few weeks ago, investors were piling cash into highly valued tech stocks. Now they can’t seem to exit fast enough. Fear and greed pervade.

For frequent readers of this column, a correction should come as no surprise. They happen every 12 to 18 months as a “normal” part of financial markets reacting to economic and market growth. Corporate earnings, the most recent jobs report, and the wait-and-see Federal Reserve seem to be contributing factors, but focusing on these each month is akin to analyzing the bugs on your windshield: watch too closely, and you’re likely to crash. For long-term investors, “corrections” (I still dislike that word) are a mere hiccup on the path to a bigger future.

Steve Booren (handout)

But news broadcasters, of course, have a different perspective. The week’s headlines touted “Investor Recession Fears,” “Sharpest Weekly Losses.” In the next breath we read “Earnings Flurry Boosts Indexes,” and “Dow Closes Higher Buoyed by Bullish Inflation Report.” Bull or bear, it’s been a dramatic couple of weeks. As Dickens wrote, “It was the best of times, it was the worst of times.”

The news is inherently reactive. Anchors have the unenviable task of filling 24 hours of on-air time daily, so besides reporting on the event, they also feel the need to attempt to explain why it happened (or add some drama). Sometimes this is straightforward; other times — especially around financial markets — it’s downright impossible.

Advertisement

Daily market movements are random. Period. For fun, start each day by guessing whether your favorite index is going to finish the day up or down. Write down your guess. Do it for a month, and see how many days you get it right. The reality is that daily market movements are affected by so many variables that choosing up, down, or flat follows the same probability as a coin flip. What’s comical is financial media’s need to explain why the coin landed heads up.

Remember: volatility drives the narrative; the narrative does not drive volatility. When markets go down, “professionals” attempt to explain why. Maybe they’re right, maybe they’re wrong, but we can never measure their accuracy. So why do we listen to them?

As humans, we want answers. Cause and effect. The market went down 800 points; why? Markets are hugely amorphous, so we turn to “professionals” to explain the details. They give us a “reason,” and we wonder how we could be so silly to have missed the signs.

Taking a step back shows us how crazy it is to believe one person could flawlessly understand why markets moved on any given day. This is akin to someone explaining that the coin landed heads up because the wind blew. It’s insanity, yet we expect it, accept it, and worse yet, get on board with it. Human behavior craves certainty and stability, yet these are mere mental mirages crafted by those seeking to keep our attention.

This leads to an even bigger problem: predictions. Given an audience, reporters may feel empowered to start guessing the outcome of the coin flip before it even starts. Viewers might like to understand why something happened, but if they could know the outcome ahead of time? Well, that’s the promised land. And the media loves to give the viewer what they want, even if it’s completely wrong.

Advertisement

This is nothing new. In the mid-1980s, as a fresh-faced adviser working for a large firm, I once picked up a renowned economist from Stapleton Airport. My job was to drive him to Breckenridge for a research conference where he’d present his future predictions. At the time, interest rates were climbing, inflation was high, and he believed emphatically that mortgage rates were going to keep rising and never come back down.

That guess was wrong. Very wrong. Later in his career, he said Y2K was going to cause a worldwide recession, comparing it to the energy crisis of the early 1970s. Wrong again. Today he (naturally) owns a huge market research firm. As our compliance department says, “Past performance is not indicative of future success.”

Though we may wish for accurate forecasting, the truth is we have no facts about the future. We don’t know what will happen or how markets will react. Humans tend to make decisions with emotion instead of common sense, and we ignore mistakes and the wisdom they bring. That’s why human nature is a poor investor.

Choosing to do the right thing — the hard thing — takes effort and discipline. It also takes a perspective that feels unnatural but makes sense when taken at face value. Invest for the long term. Remove the guesswork, and ignore those who try to convince you they have an edge. Fall back on humility as a key character trait, recognizing that your knowledge and assumptions have limits. Above all, ask why. Not why something happened; in markets that answer isn’t knowable. Instead ask why someone is trying to explain the unexplainable. You’ll find far more insight.

Steve Booren is the founder of Prosperion Financial Advisors in Greenwood Village. He is the author of “Blind Spots: The Mental Mistakes Investors Make” and “Intelligent Investing: Your Guide to a Growing Retirement Income.” He was named by Forbes as a 2021 Best-in-State Wealth Advisor, and a Barron’s 2021 Top Advisor by State. This column is not intended to provide specific investment advice or recommendations.

Advertisement



Source link

Continue Reading

Seattle, WA

How to watch the Seattle Storms vs. Indiana Fever – WNBA (8/18/24) | Stream Caitlin Clark, channel, preview

Published

on

How to watch the Seattle Storms vs. Indiana Fever – WNBA (8/18/24) | Stream Caitlin Clark, channel, preview


INDIANAPOLIS — An intriguing matchup on Sunday between two teams in different standing in the WNBA Playoff race, as Caitlin Clark and the Indiana Fever host the Seattle Storm.

  • Watch the WNBA on FuboTV (7-day free trial)

Both teams are coming off playing their first games since the Olympic Break on Friday.

The Fever hosted the Phoenix Mercury, as Caitlin Clark showed the time off did not cause any rust. Her 29 points led Indiana to pick up a 98-89 win, giving the Fever three wins in their last four games. Clark leads the team by averaging 17.1 points per game, with Kelsey Mitchell right behind her with 16.9 points a game.

The Fever come into Sunday seventh in the WNBA, three games up on the ninth-place Atlanta Dream.

The Storm stumbled in their first game following the Olympics. Against the Dream, Skylar Diggins-Smith’s 29 points was not enough, as Seattle fell, 83-81. The Storm were on a roll heading into the break, winning three straight games, and four of their previous five. They sit fifth in the WNBA, five games back of the first-place New York Liberty.

Advertisement

This is the fourth and final meeting between the two teams this season. The Storm have won each of the three matchups, including a 103-88 victory the first time they visited Indianapolis in late May.

WNBA BASKETBALL

Seattle Storm (17-9) vs. Indiana Fever (12-15)

When: Sunday, August 18

Time: 3:30 p.m. ET

Where: Gainbridge Fieldhouse (Indianapolis. Ind.)

Advertisement

Channel: ABC

Stream: FuboTV (Free Trial), Sling, DirecTV Stream

Check out the WNBA standings and results here



Source link

Advertisement
Continue Reading

Trending