16 Cos. Named PEMGroup Affiliates In SEC Fraud Suit

Law360, New York (August 13, 2009, 6:49 PM EDT) -- In a suit filed by the U.S. Securities and Exchange Commission over an alleged investment fraud scheme orchestrated by Private Equity Management Group Inc. founder Danny Pang, a federal judge has ruled that 16 entities related to Pang’s businesses qualify as affiliates and should be placed under the control of a court-appointed receiver.

Judge Philip S. Gutierrez of the U.S. District Court for the Central District of California on Monday found that 16 of 17 entities referenced in a motion by the receiver fit the definition...
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