World Media Exclusive:
Chinese Warren Buffett Weizhen Tang claiming returns of 5%, 10% per week, in Real Time Forex Trading Demo
At 10:46am, ET, on Feb 10, 2011, the so-called Chinese Warren Buffett, Weizhen Tang, is claiming investment returns of 5%, 10% per week, in his Real Time Forex Trading Demo, this week!? Indeed, Weizhen Tang is either the world’s Chinese Warren Buffett, or the world’s Chinese Bernie Madoff, achieving supposedly 5%-10% weekly returns on forex trading! Tang boasts of making some $50,000 in less than a week –of virtual profits– on FOREX trading…
While riding the forex, this week, in his demo trading, Tang had time still, to post articles about his views on both local and international stories: the Canadian Taxpayers Federation’s annual “Teddy” awards for government waste; and the imploding Egyptian political situation. Incredible!
The Chinese Warren Buffett certainly has nerves of steel; or the arrogance of a Chinese Bernie Madoff! Tang goes to court again next week! So it shall be interesting if he plans to say anything about this real time trading demo! On the other hand, Tang generally does not make statements at his hearings; allowing his lawyers to speak for him… Well, that was his self-imposed rule, under his most recent court date, at Toronto’s Old City Hall, where he finally broke his silence…
Weizhen Tang –One of Canada’s worst ponzi schemes?!
Tang stands accused of one of Canada’s worst ponzi schemes, defrauding his investors of some $65 Million.
Is Tang going to stand up in court, next week, with his week of FOREX demo results; and suggest to the Judge that Tang is indeed, the world’s Chinese Warren Buffett?!
The reaction of the Metro Toronto Police and OSC, Ontario Securities Commission should be most interesting, given that they have charged Tang with fraud, and some 60 years worth of jail time.
Can Weizhen become the Chinese Warren Buffett still? Or has his name and star fallen so badly with his 200 investors, the public and media? Can Tang even maintain his 1% weekly return on investment in this FOREX trade demo?
With the Chinese New Year of the Rabbit, Tang’s investors seem to have very little to celebrate. Below is an excerpt from Weizhen Tang’s annoucement of his real time Forex trading demo, inviting the public to register to watch his demo.
Though billed as the Chinese Warren Buffett, Tang is forbidden by the Metro Toronto Police and the Ontario Securities Commission, OSC, from trading… Tang tried to modify the bans unsuccessfully through a meeting with his investors.
Below is a summary of the meeting organized by Weizhen Tang’s Oversea Chinese Fund. Held in Toronto on October 25, 2009. Tang managed to solicit the support of some 45 of his investors, to ask the Metro Toronto Police and OSC to end Tang’s trading ban.
Tang: Please join my meeting that is currently in progress 作者: WeizhenTang 日期: 2011-02-07 14:47:37 人气: 32 reads Please join my meeting that is currently in progress. Topic: Real Time Forex Trading Demo Date: Monday, February 7, 2011 Time: 4:42 pm, Eastern Standard Time (New York, GMT-05:00) Meeting Number: 804 983 384 Meeting Password: 123456 Minutes of the OCF Investors’ Meeting of October 25, 2009
Tang: Investors Meeting Notes: Oct 25, 2009: At about 10:00AM on Sunday, October 25, 2009, Weizhen Tang’s Oversea Chinese Fund held an investors’ meeting at a restaurant in Markham, Ontario. Mr. Tang and about 50 of his investors attended the meeting. Also present were Mr. Loftus Cuddy, Tang’s lawyer, and Mr. Allan Gould, Tang’s PR consultant. Mr. Michael Wu was the English-Mandarin interpreter for the meeting. Weizhen Tang chaired the meeting. He first made an apologetic opening to the investors and reassured them that he would do everything he could to recoup their losses and pay back their investment. He said: My primary concern has always been to pay back investors for the losses incurred with me. However, I have to make it clear to everyone that the only way I can achieve this goal is through trading in the market and earning profits. If I could be permitted to resume trading, I will have no problem to realize it at all. Tang said: my re-rise will only happen on the foundation of the following three conditions: First of all, I must be proved not guilty. I will be finished if the court conviction says I am guilty – there is no doubt about that! Please trust that I didn’t do stupid things such as taking clients’ money into my own possession. Second, I have to prove my ability to maintain consistent 1% weekly profit from the market. Third, I have to return all the investment that the investors had paid to me previously. Due to certain special circumstances around my case, more importantly, because I did not put investors’ money in my own pocket, and that many investors have expressed clear wish that I could recoup their losses incurred in the market through trading, the OSC has agreed to hold a hearing about it before they make a decision. So there is a chance that the OSC will permit me to trade again on behalf of those investors who have authorized me to do so. Following Tang’s opening remarks, Mr. Loftus Cuddy came on stage to give his introduction to the situation. The following is what Mr. Cuddy said about the case: “All legal proceedings regarding the case are going on as scheduled. Court trail will start in April of 2010. The court has collected more than 15,000 documents about this case. After reading most of these documents, I have not found anything that indicates a clear direction in terms of the trial outcome. Therefore I have come to help Mr. Tang seek limited permission of the OSC to do trading.”
The Ontario Securities Commission, OSC, held a hearing on November 13, 2009; and denied the trading ban application removal by Mr. Tang and Mr. Loftus Cuddy. Tang has not been able to trade since March 2009.
In 2010, Weizhen Tang, the Chinese Warren Buffett, applied for Legal Aid in his case. He was unsuccessful.
In 2010 and now in 2011, Weizhen Tang has indicated that he is seeking other options, other legal applications for money to assist his legal case, and his living expenses.