Five-year sentence for Point Loma embezzlement spree

Embezzler bought Porsche, mansion with stolen millions

If you've ever fantasized about raiding the company accounts for a Porsche and a bayfront mansion, Ping "Jenny" Gao just demonstrated why that's a terrible plan.

The 55-year-old Point Loma resident was sentenced Friday to five years and three months in federal prison after admitting she drained $8.5 million from her employer's bank accounts. Gao worked as a part-time accounts payable representative for three aviation investment firms based at Montgomery-Gibbs Executive Field airport. With signatory authority over the company accounts, she funneled millions into fraudulent accounts she created, then went on a shopping spree that would make a reality TV star blush.

The highlight reel includes a $160,000 Porsche, a $2.9 million home with sweeping views of San Diego Bay and the downtown skyline, and countless trips to high-end fashion retailers. Not exactly subtle for someone earning a part-time salary.

Here's where the story gets wild. When her employer discovered the theft and sued, Gao didn't come clean. She told the court the person suing her was an imposter and paid over $100,000 to people in China to fabricate evidence supporting her claims. She committed perjury during the civil trial and defied court orders to stop spending the stolen funds.

Even after a judge froze the accounts, Gao wired $1.6 million to Hong Kong, sold the Porsche to CarMax for $75,000, and kept spending. Prosecutors say she originally tried to steal $23 million, but a restraining order blocked $13.7 million from being moved. More than $3.29 million remains unaccounted for.

Her defense attorney argued the employer had stolen her identity, but prosecutors rejected that claim, noting the employer wouldn't have invited FBI scrutiny if he were the one committing fraud.

Sources: Fox 5 San Diego | San Diego Union-Tribune | NBC San Diego | Hoodline | My California News