Pacific Private Money Founders Pleaded Guilty
Two men admitted to a multi-year fraud scheme that cost investors at least $71.7 million.
Updated on Oct. 1, 2026 in Financial Crime
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Investors in a Novato-based firm were defrauded of millions through a scheme that operated for four years. Mark Hanf and Nam Phan, the men behind Pacific Private Money, have now entered guilty pleas in San Francisco federal court for their roles in the conspiracy.
Why it matters
The case highlights the risks associated with private investment pools that lack rigorous oversight. With restitution ordered, the focus now turns to how the court will handle sentencing for the two defendants.
The firm raised roughly $106.7 million during the conspiracy, with the defendants ordered to pay at least $71,790,425 in restitution. While the fraud total is confirmed, the specific recovery schedule for individual investors remains unresolved.
The players
Mark Hanf
A Tiburon resident and founder of Pacific Private Money who pleaded guilty to wire fraud and money laundering.
Nam Phan
A co-conspirator and partner at Pacific Private Money who pleaded guilty to wire fraud conspiracy.
The details
Hanf and Phan manipulated financial statements and loan tapes to mislead investors while using new capital to pay off earlier participants. Hanf also diverted $12,000 of investor money to cover his personal mortgage in May 2025. Following their guilty pleas, the defendants face sentencing hearings early next year in federal court.
Timeline
December 2021 to December 2025: The conspiracy to defraud investors occurred.
August 31, 2026: Defendants were charged by Information.
September 23, 2026: Nam Phan pleaded guilty to wire fraud conspiracy.
October 1, 2026: Mark Hanf pleaded guilty to wire fraud conspiracy and money laundering.
February 2027: Sentencing hearings are scheduled for the defendants.
Across the Bay
This case follows the classic pattern of a Ponzi scheme, where funds from new investors are used to pay off existing ones to mask financial instability. It mirrors the structural deception seen in major historical fraud cases where falsified records were used to sustain the illusion of profitability.
Investors involved with the Novato-based Pacific Private Money should monitor court filings for updates regarding the restitution process. Victims should prepare for potential outreach from federal authorities as the sentencing dates approach in February.
The takeaway
Fraudulent investment schemes often utilize sanitized statements to maintain a facade of health; investors should verify statements against independent audits. Watch for future court scheduling orders in February to determine when the court will finalize the restitution payment plan.
What happens next
Nam Phan is scheduled for sentencing on February 10, 2027, followed by Mark Hanf on February 17, 2027.
Further reading
For more on local fraud prosecutions, visit our page on Financial Crime.
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