Executive Assistant's Multi-Million Dollar Deception Uncovered
A Point Loma executive assistant has confessed in federal court to orchestrating an elaborate scheme that siphoned more than $8.5 million from her employer's companies, using the stolen funds to finance an extravagant lifestyle in San Diego.
Ping 'Jenny' Gao, aged 55, entered her guilty plea last Thursday to charges of wire fraud and money laundering, according to the US Department of Justice. The prosecution detailed how Gao systematically drained four corporate bank accounts connected to her employer, moving substantial sums into accounts she had secretly opened in her own name.
Luxury Purchases Funded by Stolen Millions
The embezzled money facilitated remarkable luxury acquisitions, including a $160,000 Porsche and a breathtaking $2.9 million waterfront property offering panoramic views of San Diego Bay and the downtown skyline. In her formal plea agreement, Gao admitted using the illicit funds for these premium purchases and acknowledged transferring over $1 million directly into her personal accounts.
Her spending spree extended to upscale fashion retailers, where she burned through hundreds of thousands of dollars. The scheme began collapsing when her employer noticed significant financial discrepancies and initiated legal proceedings against her in San Diego Superior Court.
Elaborate Cover-Up and Continued Defiance
Rather than confessing when confronted, Gao escalated her deception. She aggressively claimed her accuser was fraudulent and insisted that the genuine company owner in China had authorised every transaction. To support this fabricated narrative, prosecutors revealed she spent over $100,000 paying individuals in China to manufacture counterfeit documents, which she then submitted in court to contest a preliminary injunction.
Gao later admitted providing false testimony under oath during deposition, telling lawyers the corporate accounts rightfully belonged to her. When the case reached trial in September 2023, she maintained her fictitious story under cross-examination, asserting the funds originated from personal investments in China and that a company manager merely assisted her in moving money through 'underground banks' to circumvent Chinese currency controls.
Throughout the civil proceedings, the Superior Court issued multiple orders prohibiting Gao from spending, transferring, or dissipating the disputed funds. Prosecutors state she disregarded every restriction, continuing to move money overseas—including a $1.6 million wire transfer to a Hong Kong bank account.
Consequences and Pending Sentencing
Even after losing the trial and facing a permanent injunction, Gao persisted in liquidating assets. She sold the $160,000 Porsche to CarMax for $75,000, then converted a $70,000 cashier's check from that sale into cash through an exchange with another individual, directly violating court mandates.
Authorities estimate that more than $3.29 million of the embezzled money has either been spent or remains unaccounted for. Although Gao entered her guilty plea on November 13, news of the case emerged later due to the federal government's lapse in appropriations.
At her upcoming sentencing, she confronts a maximum of 30 years imprisonment for wire fraud plus an additional 20 years for concealment money laundering, alongside fines exceeding $500,000. The case is being prosecuted by Assistant US Attorney Patrick C. Swan.
