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example of the media coverage of you, calling you a fugitive!

Author:ÌÆì¿Õé Date:2010-01-09 21:55:25 Readers:478 reads

Summary

Dear Mr Tang;

Here is good example of the media coverage of you, calling you a fugitive!

1 If you think the restrictions against you were wrong and unfair, your lawyer and advisors should have pressured mtp and courts to give you more time! Instead now, you have the bad image of being worse now, with arrest warrant against you.

This kind of media coverage is NOT at all good to you.

2 If you are wrongly restricted and wrongly described in media, why are your lawyer and advisors, not speaking out in your defence, to get the truth out; and to stop the growing bad media against you. You could threaten to sue inaccurate reports about you?!

3 enclosed below, article about you as `fugitive.

w j

`Chinese Warren Buffett` flees Canadian charges
(AFP) – 2 days ago
OTTAWA — A self-proclaimed Chinese Warren Buffett who is wanted in Canada for running a pyramid scheme that bilked at least 29 million US dollars from investors, has fled to China, he told a local newspaper.
Tang Weizhan, 51, faces arrest in Canada, where he is banned from trading securities, after he failed to turn himself in to police on December 29 to answer fraud charges.
In emails to the daily Globe and Mail published on Thursday, Tang said he traveled to China o make money in order to reimburse some 100 clients of his Oversea Chinese Fund who lost their investments.
I have nothing to do with fraud, and I am not hiding from anybody, Tang told the newspaper.
I told my lawyer I will be back (for) my hearing (in) February and use the break to make money since the OSC (Ontario Securities Commission) ban(ned) me from trading.
Loftus Cuddy, Tang`s lawyer, told AFP: He`s advised me that he`s trading successfully overseas, but I don`t know where he is exactly.
When he`s to return in early February, he would go directly to a bail court, and then face an Ontario Securities Commission trial in April, he said.
There`s a misconception out there that he`s a fugitive, Cuddy added. He`s not a fugitive. He left Canada in November before a warrant was issued for his arrest. So he faced no prohibitions when he left.
I know he plans to come back, the lawyer said. All of his roots are in Canada. He has no intention of remaining a fugitive.
Investors in Tang`s hedge fund Oversea Chinese Fund were said to be from Canada, China and the United States, where members of the Chinese-American community were specifically targeted.
Tang previously admitted that the fund operated as a Ponzi scheme from 2004 until at least 2006, according to the US Securities and Exchange Commission.
He also admitted to raising between 50 million dollars and 75 million dollars from more than 200 investors, the SEC said.
The fund`s website continues to promise returns of one percent per week to clients after an initial investment of around 150,000 dollars, but Tang`s office telephone has been disconnected.
Tang is already accused by US authorities of posting false profits on investors` account statements until February 2009, to hide substantial trading losses.
Tang further admitted that he used funds from new investors to return principal and payout purported profits to other investors, according to an SEC complaint, adding he described himself as the Chinese Warren Buffett after the multibillionaire American investor and philanthropist.
I`m hoping the (Canadian police) fraud squad will give him a break and allow him to return and surrender himself... in a civilized manner, Cuddy told AFP. But I guess they`re looking for him wherever he is.
Constable Wendy Drummond of the Toronto Police Service said Interpol has been informed of the warrant for Tang`s arrest.
However, China and Canada do not have an extradition treaty, she noted, so it probably won`t help us get him back.
Copyright © 2010 AFP. All rights reserved

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