Entrepreneur Alleged with Timeshare Fraud Has Died in California

Last April The Timeshare Authority told you about Danny Pang, a Los Angeles businessman, who the Securities and Exchange Commission alleged had raised hundreds of millions of dollars, (much of it from Taiwan) in investment money that he and his company then repaid with monies other clients had more recently invested in timeshare projects.

Now, the facts of the case may never be fully understood. Pang, age 42, died last week in an Orange County California hospital, one day after being taken from his Newport Beach home by paramedics. No foul play has been found in Pang’s death, pending results of a scheduled autopsy and of toxicology reports that may take as long as several months to be processed.

Was Timeshare Real Estate Investment Really Just a Timeshare Scam?

The charges brought against Pang alleged that his company was running what was essentially a Ponzi scheme, where he showed false returns on investments in timeshare real estate and life insurance policies, but was using the money from recent investors to pay returns to earlier investors. His family maintains his innocence.

Pang, known for socializing with Hollywood‘s rich and famous, attracted speculation about his high profile and luxurious existence including the allegation that he used investor’s money as a “personal piggy bank to fund a lavish lifestyle, that included spending $35 million on a fleet of jets.”

In 1997 Pang’s wife, former exotic dancer Janie Louise Pang, was murdered at the couple’s home. Pang’s attorney, Hugh “Randy” McDonald, was tried for her murder but the jury was never able to reach a verdict and no new trial was ever sought. The case officially remains unsolved.

Source: AP News and others.

Related The Timeshare Authority blog post:

Frequently Asked Questions About Timeshares and Timeshare Resales