California financier Danny Pang died early Saturday at a Newport Beach hospital, his spokesman said.

Pang, 42, had been taken from his Newport Beach home Friday afternoon by paramedics. An operator at the hospital said early Saturday morning that a patient named Danny Pang was in the coronary-care unit but didn't provide other information. The cause of death wasn't immediately available.

Federal regulators have accused Pang of masterminding a massive international securities fraud and misappropriating millions of dollars for himself. He has denied wrongdoing in that civil action.

Pang's former company, Private Equity Management Group Inc., of Irvine, Calif., is being operated by a court-appointed receiver, and his assets have been frozen by a federal judge. He has been confined to his Newport Beach home via an electronic monitoring device on his ankle.


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