Pang popped for Ponzi

danny pang
Financier Danny Pang was arrested for structuring, a charge often used as a placeholder while the feds investigate further. The SEC has already accused Pang of a Ponzi scheme that bilked investors for hundreds of millions.

Structuring is deliberately funneling payments through a bank at just below the minimum $10,000 limit that triggers automatic reporting to the government.

Comments are closed.

Powered by WordPress. Designed by WooThemes