Archive for the ‘Securities Related Issues’ Category

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April 28, 2009 – another financier gets arrested…

Thursday, February 25th, 2010

Danny Pang the fugitive financier was arrested today.  When will they learn?  After apparently returning to the U.S. from Taiwan last week he was nabbed in Santa Ana.  US regulators accuse him of significant fraud; millions of dollars, perhaps billions of dollars the feds say was stolen from investors.  Today the FBI arrested him at his lawyer’s office based on charges that he made many transactions less than $10,000 – totaling $360,000 – to avoid federal regulations to report such his transaction to federal regulators.

And these charges aren’t even related to the charges that may  be leveled at his company Private Equity Management (PEM).

Developing…

Posted in Business Disputes, International, Scams and Schemes, Securities Related Issues | No Comments »

April 27, 2009 – another financier runs and hides…

Thursday, February 25th, 2010

California financier Danny Pang has been charged by the Securities and Exchange Commission with allegations that he defrauded investors of hundreds of millions of dollars.  Although Pang apparently is in China (on a religious pilgrimage) the SEC has a temporary order freezing his assets along with the assets of his companies  Private Equity Management Group, Inc. and Private Equity Management Group LLC.

Apparently Pang raised much of the money in Taiwan in part by lying about his past acheivements at Morgan Stanley and his earning an advanced degree at UC, Irvine.

A receiver has been appointed – hopefully he will be able to protect what assets he can easily find and recover other assets through clawback lawsuits or agreements with various people and companies.

Posted in Consumer Protection, International, Scams and Schemes, Securities Related Issues | No Comments »

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