in insurance, and together they make an interesting couple. >> nasar was kind of an operations person, also a very conservative, straight guy. danny was the salesperson. he had the relationships in taiwan and other asian countries with the investors, or so he said. >> narrator: pang uses his connections to court taiwanese banks to invest in pem group. >> danny was really good at this. i mean, he dressed in $3,000 suits, and he took the finest suite at the five-star hotels in taipei. he was sort of a guy who would try to convince folks that he had some substance and a track record. >> narrator: pang tells potential investors that he has that mba from university of california, irvine, and that he was once a vice president at morgan stanley. >> no one ever took the time to make a simple inquiry into his background as to whether he really had that kind of experience, but it never came up as an issue. >> narrator: he also tells investors that pem group is backed by the irvine family, which owned a large part of orange county in the 19th century. >> danny found a member of the irvine family