LOS ANGELES … The family of Ameriquest Mortgage Co. founder Roland Arnall says he has died at UCLA Medical Center on Monday. He was 68.
The billionaire helped create and later emerged as a symbol of the struggling subprime-mortgage industry.
A family statement Monday said Arnall died Monday morning at the Los Angeles-based hospital but didn't give the cause of death.
Arnall was appointed ambassador to the Netherlands in March 2006 after an approval process that was slowed by unsettled issues regarding Ameriquest, the California-based lending company he founded in 1979.
A major Republican financier, Arnall's fortune was estimated at $1.5 billion by Forbes magazine last year.
