What has recently happened to danny pang?
Sept. 12 (Bloomberg) — Danny Pang, the founder of Private Equity Management Group Inc., who U.S. regulators claim bilked Taiwanese investors, died today, a spokesman for the Pang family said. Pang, 42, had been taken from his Newport Beach, California, home yesterday afternoon by paramedics who had responded to a call from the house, said Sergeant Doug Jones of the Newport Beach Police today. He was taken to Hoag Hospital, Jones said. Charles Sipkins, a Pang family spokesman, confirmed the death and declined to comment further. Pang’s lawyer, James Riddet, wasn’t available. Pang, who was free on $1 million bail, pleaded not guilty on July 27 to charges in a separate criminal case that he structured cash withdrawals to avoid having to report them. He was charged in an indictment with two counts of making a total of about 50 cash withdrawals in amounts of as high as $9,900 to evade a U.S. law that requires reporting cash withdrawals of $10,000 or more. A trial date was set for Sept. 15,
LOS ANGELES (Reuters) – Financier Danny Pang, who was accused by U.S. securities regulators of perpetrating a massive Ponzi scheme on mainly Taiwanese investors, has died, a family spokesman said on Saturday. Pang, 42, was taken to a California hospital near his home on Friday and later died, spokesman Charles Sipkins said. The cause of death was related to a heart ailment, he said. Pang was the founder and ex-chief executive of Private Equity Management Group Inc and Private Equity Management LLC, or the PEMGroup. At the time of his death, federal civil and criminal charges were pending against Pang. He was also the subject of an ongoing federal investigation into the alleged Ponzi scheme. In July, Pang pleaded not guilty in a Southern California federal court to two criminal counts of structuring cash transactions to avoid reporting them to the government. His trial date was recently pushed back until August 2010. “Our entire family is shocked and saddened by Danny’s sudden and tragi
