Financial Fraud News Update

Offices of the United States Attorneys

You are subscribed to Financial Fraud news updates. This information has recently been updated, and is now available. San Diego Woman Pleads Guilty to Embezzling $8.5 Million from Employer 11/18/2025 07:00 AM EST SAN DIEGO – Ping "Jenny" Gao, a resident of Point Loma, has pleaded guilty in federal court, admitting that she embezzled more than $8.5 million from her employer by draining four bank accounts belonging to his U.S. companies. According to her plea agreement, Gao funneled company funds into accounts she fraudulently created and then went on a spending spree, buying a $160,000 Porsche and a $2.9 million home with views overlooking San Diego Bay and the downtown skyline.

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