SEC Charges San Francisco Bay Area Private Fund Executives with Multimillion Dollar Ponzi-Like Scheme

The Securities and Exchange Commission today charged Mark D. Hanf, the former CEO of Novato, California-based Pacific Private Money Group LLC (PPMG), and Hoai-Nam Chu Phan, the former COO of a PPMG subsidiary, with orchestrating an offering fraud that raised more than $80 million from approximately 190 mostly retail investors, many of whom were retired senior citizens [1].

Sources

1. sec.gov · SEC Charges San Francisco Bay Area Private Fund Executives with Multimillion Dollar Ponzi-Like Scheme Sep 1, 2026

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