The former executives of a defunct Novato-based private lending firm whose collapse stranded more than 100 investors and roughly $100 million were criminally charged in connection with an alleged fraud scheme, court filings show.
The charges brought Monday by the U.S. Attorney’s Office in San Francisco against Mark Hanf and Nam Phan, the former partners at the helm of Pacific Private Money Inc., include conspiracy to commit wire fraud and money laundering. Prosecutors are also seeking criminal forfeiture, which could allow the government to seize assets tied to the alleged scheme.
The federal complaint accuses Hanf and Nam of raising $103 million from 175 investors, many of whom were retirees, between December 2021 and December 2025 by promising that their money would fund real estate-backed loans and could be redeemed within 30 days…