Wednesday, September 17, 2014
Inquirer Daily News

Accused Chadds Ford investment adviser dead

David M. Mengen was found unresponsive at his home, three weeks after federal proscutors accused him of tax evasion

Accused Chadds Ford investment adviser dead

An investment advisor charged last month with tax evasion is dead at age 42. David M. Mengden was found unresponsive at his Chadds Ford home on March 27. He was declared dead at the scene, state police spokeswoman Rose McGuire said. Delaware County medical examiners are investigating the cause of death.

Friends and family held a service Sunday at the Pagano funeral home in Booths Corner.

On March 8, Mengden was indicted by a federal grand jury, at the request of US Attorney David Memeger, with collecting $7 million from his business, Global Advisory Services, from 2001-07, and not reporting the income to the Internal Revenue Service or the bank that financed his $3.8 million home.

"He obviously had a lot of stress and a lot of problems in his life. But who knows why anybody does this?" Mengden's attorney, Patrick J. Egan, told me.

In federal cases, when a defendant dies, the indictment "is typically dismissed," said Patricia Hartman, a spokeswoman for prosecutor Memeger. The case is before federal Judge John R. Padova.

Joseph N. DiStefano
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PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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