The Securities and Exchange Commission on September 1, 2026, charged Mark D. Hanf, the former chief executive officer of Novato, California-based Pacific Private Money Group LLC, and Hoai-Nam Chu Phan, the former chief operating officer of a PPMG subsidiary, with orchestrating an offering fraud that raised more than $80 million from approximately 190 mostly retail […]
- The SEC has charged two executives of Pacific Private Money Group LLC with orchestrating an $80 million offering fraud targeting retail investors, many of whom were retired seniors.
- The executives allegedly misrepresented fund usage and returns, using new investor capital for Ponzi-like payments instead of actual real estate lending profits.
- Both funds have collapsed, leading to bankruptcy filings and significant investor losses, with criminal charges also filed by the U.S. Attorney's Office.
Topics: Legal regulatory, Asset types, Securities law classification, Real assets
Tags: #sec #offeringfraud #pacificprivatemoney #markdhanf #hoainamchuphan #ponzischeme #realestatelending #retailinvestors #bankruptcy