A Point Loma woman will spend the next 63 months in federal custody after orchestrating a massive $8.5 million embezzlement and money laundering scheme against her employers. Ping “Jenny” Gao, 55, was sentenced on Friday by U.S. District Judge James E. Simmons, Jr., who also ordered her to pay $3,295,000 in restitution to her victims, Nautical Hero Group, LLC and Vitality International Management, LLC.
Gao’s legal troubles began after she admitted to funneling millions from three aviation investment firms based at Montgomery Field airport—Nautical Hero Group, Axiom United Holdings, and Vitality International Management—all owned by the same individual.
According to her plea agreement, Gao created fraudulent accounts to siphon company funds, which she then used to fund a lavish lifestyle. Her purchases included a $160,000 Porsche and a $2.9 million home featuring views of the San Diego Bay and the downtown skyline.
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The case took a complex turn when Gao’s employer discovered the theft and initiated a lawsuit in San Diego Superior Court. In response, Gao launched an elaborate cover-up. She falsely claimed her actions were authorized by the companies’ true owner in China, labeling the person suing her an “imposter.”
To back up these claims, Gao paid more than $100,000 in embezzled money to individuals in China to manufacture fake evidence, which she then submitted to the court. Gao also committed perjury during a civil deposition, insisting the company funds actually belonged to her.
Even as the Superior Court issued multiple orders to stop Gao from spending or transferring the stolen money, she continued to move the proceeds. Government records show she completed more than 300 financial transactions in violation of court mandates, including wiring $1.6 million to a bank account in Hong Kong.
“The cover-up is often worse than the crime,” said U.S. Attorney Adam Gordon. “Those who fabricate evidence and lie under oath to conceal their crimes undermine our judicial system – and they will be held accountable.”
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During a 2023 civil trial, Gao testified again, sticking to a false narrative that the money came from her own investments in China and claiming a manager helped her move funds through “underground banks” to bypass Chinese law.
The court eventually ruled against her, making a temporary injunction permanent. Despite this, Gao continued to dissipate assets, selling her Porsche to CarMax for $75,000—less than half its value—and swapping a cashier’s check from the sale for cash.
In her plea agreement, Gao admitted to moving over $1 million into personal accounts and spending hundreds of thousands at high-end fashion stores. Officials noted that more than $3.29 million remains squandered or unaccounted for.
“The lengths that Gao took to hide her criminal activity are appalling in and of themselves, showing a complete disregard for our justice system,” said TJ Holland, Acting Special Agent in Charge of the FBI San Diego Field Office. “Today’s sentence reflects the magnitude of these types of financial crimes.”
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