Of course, they were all paid for with stolen money but who cares, the point is, among the more than $80 million "in questionable personal and business expenses financed by the firm's investors" was a recent $1 million Disney cruise for the whole staff and an firmwide trip to china.* Nice! According Robert Mosier, the court-appointed receiver in the PEMGroup Ponz case, Pang also tapped into investor funds for three planes ($35 million), a deposit on a fourth jet ($3.5 million), loans to himself ($6.9 million), loans to the PEMGroup ($16 million) and transfers to "Pang entities" ($9.8 million). In related news, Pang requested yesterday that his assets be unfrozen, arguing that the SEC acted "improperly," and was motivated by criticism of its failure to identify the Madoff scam, which is probably true, and also probably not going to get him off.
*In addition to the times he flew a bunch of girls from work to Vegas, and on the way back, "had a briefcase stuffed with cash and...started throwing money to the girls, in stacks of $10,000," as documented in the above photo.
Posted by guest , May 08, 2009 9:41AM
I miss the days when "Chinese cruise" meant a month at sea in a steel container.
~The Evil Guy from Delaware
Posted by guest , May 08, 2009 9:42AM
With all that dough, this was the best looking girl he could find? Ugh, we need higher standards...just sayin
Posted by guest , May 08, 2009 9:43AM
that broad is busted i say.
Posted by guest , May 08, 2009 9:43AM
It would take me about 40 Jaeger Bombs before i could even look at that mongaloid, let alone hand her stacks of bills.
http://www.youtube.com/watch?v=fFyTMp2GlPs
Posted by guest , May 08, 2009 9:53AM
No no, here's the correct clip:
http://www.youtube.com/watch?v=FRR8Y0axNvU
Posted by guest , May 08, 2009 9:56AM
Chick is so busted. Probably one of those chicks that thinks she's hot. Basically what I'm saying is Asian people have no souls
Posted by guest , May 08, 2009 10:00AM
GUF = Go ugly first.
Sleeping with a fat chick is like riding your sister's bike: It's a lot of fun but you don't want anyone to know you did it.
Posted by guest , May 08, 2009 10:01AM
NFW he hit that. She's either the fat cousin of somebody good looking or she has pictures of him Panging young boys.
Posted by guest , May 08, 2009 10:01AM
BEST picture i have ever seen on this site.
NO SOULS IS RIGHT
Posted by guest , May 08, 2009 10:07AM
Fat girls give better head.
Posted by guest , May 08, 2009 10:13AM
I wonder how many nail salons one could open with that money?
Posted by guest , May 08, 2009 10:15AM
Fat and under 25 years old is pretty tempting when the man is older than 50. Let's call it the "Bill Clinton Syndrome".
Posted by guest , May 08, 2009 10:22AM
@12- pang isn't over 50, and his wife is much better looking.
Posted by guest , May 08, 2009 10:24AM
maybe he just likes fat chicks.
Posted by guest , May 08, 2009 10:25AM
@13 Right! I thought his wife (the one he didn't kill) was like a fucking 10! No soul though.
Posted by trojan , May 08, 2009 10:34AM
@7
no, more like a moped: fun to ride til your friends see you
Posted by guest , May 08, 2009 10:40AM
@10 How come your mom sucks at it...
Posted by guest , May 08, 2009 10:46AM
Ugly chicks have STDs.
Posted by guest , May 08, 2009 11:07AM
barbarians. go home
Posted by guest , May 08, 2009 11:10AM
she's definitely mongolian....
Posted by guest , May 08, 2009 11:12AM
heh heh . . . Bess said "get him off" heh heh
Posted by guest , May 08, 2009 11:15AM
You can be ugly and get hot chicks. You can be poor and get hot chicks. You just can't be both.
Posted by guest , May 08, 2009 11:41AM
Clearly thats all of the money she won from arm wrestling in vegas. Look at those sausage arms, mangaloid is right. I would make this chick walk home
Posted by guest , May 08, 2009 11:42AM
Please stop posting pictures of that ugly fat broad.
Posted by guest , May 08, 2009 11:42AM
im pretty sure the money was supposed to cover her face. pretty pretty pretty... pretty sure
Posted by guest , May 08, 2009 11:44AM
May I point out that Pang didn't necessarily bang this chick.
Just pointing out the obvious and feeling bad for somebody who might be a low level employee.
-The Girl From California
Posted by Anal_yst , May 08, 2009 11:51AM
I believe someone already pointed this out in a previous thread on the Pangster, but if you have $ and are reasonably good looking, and also happen to be effecting fraud on a relatively massive scale, keeping fat/busted chicks around the office to handle admin work is a much better plan than keeping foxes.
'Tis easy to keep a busted girl content (paranoid of losing their job/gravy train ride) than a hot one.
Posted by guest , May 08, 2009 11:51AM
@26. Ah, sure he didn't. And she clearly looks like she is feeling bad about being a low level employee. She does look like she's been well fed.
Posted by guest , May 08, 2009 1:54PM
This is what that chick will look like in fifty years.
http://www.chinadaily.com.cn/english/doc/2004-08/25/xin_19080125090619906881.jpg
Posted by guest , May 08, 2009 2:03PM
@27 that's why Go Ugly (or Fat) First works so well.
Posted by guest , May 08, 2009 3:12PM
why you making fun? this very disappointing.
Posted by guest , May 08, 2009 3:20PM
@11 brilliant.
better idea: rub n tug... margins are superior
Posted by guest , May 08, 2009 3:20PM
@11 brilliant.
better idea: rub n tug... margins superior margins
Posted by guest , May 10, 2009 7:45PM
In related news, Pang requested yesterday that his assets be unfrozen, arguing that the SEC acted "improperly," and was motivated by criticism of its failure to identify the Madoff scam, which is probably true, and also probably not going to get him off.
Danny Pang is the last person who should be questioning other people's motives. He gave himself a times-ten pay increase when he knew PEMG's investments were collapsing. He wasted hundreds of millions of dollars entrusted to him and lied to investors. He fired and slandered the one PEMG staffer who tried to stop the corruption. According to the receiver's report, he "breached his fiduciary duty at nearly every juncture." And he did everything in his power to avoid getting caught. If it hadn't been for the investigative work of the Wall Street Journal -- which Pang hired a massive PR agency to try to block -- he would still be running this swindle.