SAN DIEGO, California — Ping “Jenny” Gao, a 55-year-old from San Diego, has been sentenced to 63 months in federal custody for embezzling and laundering more than $8.5 million from her employer’s bank accounts.
U.S. District Judge James E. Simmons, Jr. also ordered Gao to pay $3,295,000 in restitution to the victims, Nautical Hero Group, LLC and Vitality International Management, LLC, according to a press release from the U.S. Attorney’s Office. Gao, who worked for three aviation investment firms based at Montgomery Field airport, funneled company funds into fraudulent accounts and made extravagant purchases, including a $160,000 Porsche and a $2.9 million home overlooking San Diego Bay.
When her employer discovered the theft and sued her in San Diego Superior Court, Gao falsely claimed her actions were authorized by the real owner of the companies in China and accused the plaintiff of being an “imposter.” She paid over $100,000 of embezzled funds to fabricate evidence, which she filed with the court, and committed perjury during her deposition by claiming the funds belonged to her…