Reedley Chinese COVID Lab Received Tax Credit of $360,000 From Gov. Newsom’s ‘GO-Biz’
At the epicenter of current controversy, an illegal California lab run by a Chinese biotech firm, Prestige Biotech, was recently discovered in a warehouse in Reedley, California. The lab contained mice which were genetically engineered to spread COVID-19.
According to National Review, “court documents further showed that the Centers for Disease Control (CDC) conducted tests on the more than 800 chemicals found at the site and that over 20 infectious agents were found present, including Hepatitis B and C, streptococcus pneumonia, chlamydia, rubella, and Herpes 1 and 5.” As a federal investigation is underway, where will the money trail lead us?
As recently discovered, Prestige Biotech is registered in the State of Nevada, but unlicensed to conduct business within the State of California. Code enforcement officials from the City of Reedley spoke to Xiuqin Yao, President of Prestige Biotech, as identified via emails and court documents. Ms. Yao informed authorities that the company was the largest creditor of Universal Meditech (UMI), Inc. which filed for bankruptcy. UMI had been relocated from the City of Fresno to the Reedley warehouse following an electrical fire, and when UMI ceased operations. According to NBC News, “Prestige Biotech was a creditor to UMI and identified as its successor, according to court documents.”
A document released on March 24, 2019 by Governor Newsom’s Office of Business and Economic Development, a California Competes tax credit allocation agreement of $360,000 was cemented with UMI.
CDC conducted found more than 800 chemicals at the site and over 20 infectious agents
By Adina Flores,
