Executive found dead

Newport Beach resident and indicted financier Danny Pang did not die as a result of foul play, coroner’s officials said.

An autopsy performed Sunday proved inconclusive as to what killed Pang, 42. Coroners will now wait for toxicology results, which will take two to three months, officials said.

Pang was on house arrest and had to wear an electronic monitoring device around his ankle as part of federal authorities’ investigation into his Irvine-based firms, Private Equity Management Group Inc., and Private Equity Management Group LLC.

Pang was the founder and former chief executive of the two firms.

He was indicted by a federal grand jury in July on charges of evading currency-reporting laws.

FBI agents arrested Pang in April on suspicion that he structured cash payments to keep them under $10,000 so they would not have to be reported to the government.

Court documents show Pang was accused of having his employees cash checks for amounts less than $10,000.

The Securities and Exchange Commission was able to freeze his assets and those of his companies through an emergency court order.

Federal authorities claim Pang swindled millions from his firm’s clients by misrepresenting investments in seniors’ life insurance policies and time-share real estate.

Pang died early Saturday at Hoag Memorial Hospital Presbyterian.

Police responded Friday afternoon to his home in Dover Shores on a report of a dead body.

Charles Sipkins, spokesman for the Pang family, issued a statement Saturday maintaining Pang’s innocence.

Among the comments, the statement concluded, “We remain steadfast in our belief that Danny would have been vindicated if he had been given that opportunity.”