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World Daily: SEC freezing Weizhen Tang’s companies

Author:weizhen tang Date:2009-04-12 20:58:23 Readers:912 reads

Summary

With the American Securities and Exchange Commission freezing Weizhen Tang’s companies and their assets in the United States, Tang contacted the World Daily on April 8th, wishing to be interviewed. The interview is as follows.

World Daily (WD): What are your thoughts about the charges that the SEC has filed against you in local court?

Tang (T): Since the beginning, when the OSC received complaints about me, the majority of information they collected has been false, especially the information announced by the American SEC. The accusations that I have cheated $75 million from over 200 investors, as well as that $9 million of the investment funds has vanished, are totally untrue. Besides, I have not personally traded in the past few weeks, and have no idea where the rumoured $500 000 in losses came about.

WD: Why have the securities commissions of the USA and Ontario successively decided to commence investigations against you?

T: When the respective commissions received complaints from investors, they record everything the investors allege, then present all the information to the court. Actually, there needs to be an investigative process once the court receives the information. Not many people understand that, and believe that I have already been proven guilty with the court filings. Actually, the commissions have no evidence of any wrongdoing on my part; it is only their suspicion. Thus, their revelation of their suspicion to the media has caused severe damage to my reputation. Many top lawyers have approached me, wishing to represent me and assist me in recovering my good name.

WD: What is your relation with the American companies “Win Win Capital Partner LP” and “Bluejay Investment LLC”? Do you personally invest for these entities?

T: I am the owner of these two companies, but their operation is delegated to a local representative. Their main purpose is to collect funds from local investors, upon which the funds were transferred to the Toronto-based Oversea Chinese Fund. The two American companies are purely contributory in nature.

WD: On April 6th, you announced that you were planning a new “Commercial Strategy”. Can you divulge the contents of the strategy?

T: Currently, I am creating a secret weapon which can reverse my fortunes, but I cannot tell you the specifics. I know that at this point, returning investors’ money is the most important task. I believe that I can soon resolve my issues, and once again earn money for my investors.

WD: With the current situation, do you still believe that the investors will continue to support and believe in you?

T: I think that logical clients will continue to support and believe in me, because they understand that investing brings with it unavoidable risks.

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