California financier Danny Pang dies; had pleaded not guilty to federal fraud charges

Calif. financier under investigation dies

SANTA ANA, Calif. — Danny Pang, an Orange County financier who was the subject of a fraud investigation by the Securities and Exchange Commission, has died.

The Orange County coroner’s office says the 42-year-old Pang died Saturday at a hospital, one day after after being taken from his Newport Beach home by paramedics. An autopsy is scheduled Sunday to determine the cause of death.

Pang pleaded not guilty in July to federal charges of evading currency reporting laws. The case was set to go to trial next week.

In a separate case, Pang was accused of cheating investors and running his Irvine company, Private Equity Management Group, like a Ponzi scheme.