Danny Pang has formally been charged with fraud by the Securities and Exchange Commission. The SEC has also frozen Pang's account.According to the allegations, filed in federal court in Los Angeles, Pang defrauded investors out of hundreds of millions of dollars.Pang traveled to China shortly after the Wall Street Journal published an article detailing his shady investing practices. His current whereabouts are unknown.From the Bloomberg News: April 27 (Bloomberg) -- The Securities...Read Full Story
Danny Pang is the chairman of a $4 billion private equity fund, and is accused of running a Ponzi scheme. Find more Danny Pang news and information here.