St. Louis: Woman accused of scamming friends and family - KMOV.com

St. Louis: Woman accused of scamming friends and family

ST. LOUIS (AP) -- A St. Louis woman faces federal charges for allegedly bilking investors out of more than $1 million.

An indictment of Germaine Pang, 60, was announced Friday on one count each of bank fraud and mail fraud. She is expected to appear in federal court next week.

Pang did not have a listed phone number, and it wasn't clear if she had an attorney.

Acting U.S. Attorney Michael Reap says Pang solicited clients that included relatives and friends, then convinced them to invest in a nonexistent fund. She allegedly put the money into her personal bank accounts.

Reaps says she even created fake annual reports mailed to investors to convince them their investments were safe and growing.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

 

 

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