February 14, 2026 – SAN DIEGO, CA – Ping “Jenny” Gao of Point Loma was sentenced in federal court on Friday to 63 months’ 
custody after admitting that she embezzled and laundered more than $8.5 million from her employer’s bank accounts.
Image by Ray Shrewsberry • Ray_Shrewsberry from Pixabay
U.S. District Judge James E. Simmons, Jr. also ordered Gao to pay $3,295,000 in restitution to victims of the offense – Nautical Hero Group, LLC and Vitality International Management, LLC.
According to admissions in her plea agreement, Gao worked for three aviation investment firms – Nautical Hero Group, LLC, Axiom United Holdings, LLC, and Vitality International Management, LLC – based at Montgomery Field airport and owned by the same employer. She 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.
Related: San Diego Woman Pleads Guilty to Embezzling Over $8.5 Million from Employer
When her employer discovered the theft and sued in San Diego Superior Court, Gao falsely claimed her actions were authorized by the real owner of the companies in China and the person who sued her was an “imposter.” To support this false defense, Gao paid more than $100,000 of embezzled funds to people in China to fabricate evidence, which she then knowingly filed with the Superior Court to oppose a motion for a preliminary injunction. Gao also committed perjury at her deposition in the civil matter by claiming the funds in the companies’ bank accounts belonged to her.
Though the Superior Court issued multiple orders barring Gao from further spending, transferring, or dissipating the proceeds during the pendency of the civil case, Gao disregarded the orders and continued to make transactions with the embezzled proceeds. Those transactions included wiring $1.6 million overseas to a bank account in Hong Kong, China.
According to the United States’ Sentencing Memorandum, Gao knowingly completed more than 300 financial transactions in violation of court orders and purposefully deceived her own lawyers into unwittingly filing fabricated evidence to the Superior Court to support her false defense.
In September 2023, the civil case went to trial and Gao testified in her defense. Gao committed perjury again by claiming the funds were from her investments in China. She also falsely claimed that one of the managers of the companies was helping to move her funds into the United States using “underground banks” to avoid Chinese laws limiting overseas transfers.
The Superior Court ultimately ruled against Gao and converted the preliminary injunction into a permanent injunction. Despite the permanent injunction, Gao continued to dissipate proceeds in violation of the court order. This included selling the $160,000 Porsche to CarMax for $75,000 and exchanging a $70,000 cashier’s check from proceeds of that transaction with another individual for cash.
According to her plea agreement, Gao admitted that she transferred more than $1 million of the embezzled funds to her personal bank accounts and spent hundreds of thousands of dollars on luxuries and at high-end fashion stores. There is also more than $3.29 million of embezzled funds that were squandered or remain unaccounted for to date.
“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.”
“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. FBI San Diego is dedicated to using all of its resources to investigate any criminal activity impacting our local industries and ensure a fair and just outcome for the victims.”
This case is being prosecuted by Assistant U.S. Attorney Patrick C. Swan.
DEFENDANTS Case Number 23-CR-2380-JES
Ping Gao, aka Jenny Gao, Gao Ping Age: 55 San Diego, CA
SUMMARY OF CHARGES
Wire Fraud – Title 18, U.S.C., Section 1343
Maximum penalty: Thirty years in prison and fine of $250,000 or twice the gross gain or loss from the offense, whichever is greater
Concealment Money Laundering – Title 18, U.S.C., Section 1956(a)(1)(B)(i)
Maximum penalty: Twenty years in prison and fine of $500,000 or twice the value of the property involved in the transaction, whichever is greater
INVESTIGATING AGENCY
Federal Bureau of Investigation
Source: DOJ Release