Sep 14, 2009

A Mysterious Death for California's Purported Ponzi Schemer [And Now He's Dead]

Danny Pang, the California financier being sued by the SEC for international securities fraud, died at home in Orange County of unknown causes. He was 42.

Pang was the Golden State's answer to Bernie Madoff, accused of faking his educational credentials, diverting money he was supposed to be investing to his private jet and misrepresenting how his firm made money. His death came amid fresh question over whether Pang had diverted some assets to a lover to hide them from authorities.

Pang died after being rushed by paramedics to a hospital near his home, according to the Wall Street Journal. The coroner told the press there were no signs of foul play but will not say more until toxicology reports are complete.

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