The level of corruption of some so-called investment counselors is in one word -- staggering!

Take the case of Danny Pang, the so-called financier from the Private Equity Management Inc., known as PEM Group.

Mark Maremont in a Wall St. Journal May 8 an article reported:

"Money transfers 'may rise to the level of theft' as filing discloses $80 million in dubious expenses," explaining, "The court appointed receiver of the Danny Pang case criticized the California financier for running his investment firm like a 'personal piggy bank' and claimed that abuse and mismanagement along with a faltering economy had left a hole of between $400 million and $600 million in the firm's books.

Is Mr. Pang offering any apologies to the investors who may have trusted their entire life savings with him?  No way!