SEC Accuses Danny Pang Of Massive Securities Fraud

Law360, New York (April 27, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has accused Danny Pang, former head of the international investment firm Private Equity Management Group Inc., of orchestrating an investment scheme worth hundreds of millions of dollars in fraudulent securities backed by insurance policies.

Since 2003, Pang has been misusing investor funds and lying to potential clients, according to a complaint filed by the SEC on Saturday in the U.S. District Court for the Central District of California.

“Swift and decisive enforcement action is critical to rooting out unscrupulous promoters...
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