WORLD EXCLUSIVE: Judge denies mental health assessment to Canada’s worst and largest ponzi scheme fraud, Weizhen Tang, Chinese Warren Buffett
Toronto. January 18, 2013 — This morning, Judge Alfred O’Marra denied the request for a mental health assessment for Weizhen Tang, convicted on Oct 30, 2012, of a $52 Million ponzi scheme fraud –Canada’s worst and largest ponzi scheme fraud.
The mental assessment motion came actually on January 11, 2013, from Tang’s amicus lawyer, Hamilton lawyer, Mr. Peter Boushy.
Tang was found guilty for criminal fraud; by a jury in almost record time, about 1 hour, in October 2012. And the mental health assessment application, this January 2013, was requested by Tang’s amicus lawyer, during Tang’s sentencing hearing, to consider Tang’s possible mental health problems that might affect sentencing.
Today’s denial by Judge Alfred O’Marra, for such a mental health assessment, took some experts by surprise; as many people felt that there were very much signs of mental health issues with Weizhen Tang. Tang’s Amicus Peter Boushy pointed out that as a retained lawyer, he would have ordered such a mental assessment for his client, who has been demonstrating various behavior problems, verbal and written rants about unfair persecution and injustice.
Such a mental health assessment would have taken several months, if Judge Alfred O’Marra had allowed the application by amicus lawyer, Mr. Peter Boushy. Instead the sentencing hearing of Weizhen Tang is scheduled to continue on February 1, 2013.
Without greeting or preamble, this morning, Ontario Judge Alfred O’Marra immediately launched into the reading of his decision, that ultimately denied Tang’s application for a mental health assessment.
Judge O’Marra called Weizhen Tang a very “shrewd,” “a very good salesman,” who had convinced over 200 investors to give him money, in what was eventually found to be an elaborate ponzi scheme fraud.
Judge O’Marra used Weizhen Tang’s own expressions, in referring to the convicted ponzi scheme fraud, “Weizhen Tang, the Chinese Warren Buffett, the King of 1%.”
After handing down his decision on the mental health problem assessment, Judge O’Marra moved to reschedule the sentencing hearing. Mr. Weizhen Tang noted that he had things that he wanted to say; at which point Judge O’Marra cautioned Mr. Tang to focus on the sentencing hearing; and not seek to rehash or retry the trial. Judge O’Marra sternly and simply called Tang’s grievances of persecution, injustice, “NOT relevant” at this stage of the legal process.
Judge O’Marra noted that Mr. Tang was found guilty; that the sentencing hearing was NOT an opportunity for Mr. Tang to make public statements, other than on Mr. Tang’s sentencing.
“Weizhen Tang, the Chinese Warren Buffett, the King of 1%, the Chinese Bernie Madoff”
From organizer of one of the world’s largest global goodwill rallies in early 2008, Weizhen Tang is now the convicted Chinese Bernie Madoff. Quite a sad contrast to his global triumph of 2008, a rally on the steps of Canada’s Parliament, encouraging global friendship and harmony, as criticism against the China Beijing 2008 Olympics, became racism against Chinese peoples around the world.
For years, Weizhen Tang, the Chinese Warren Buffett, claimed investment returns of 1% per week, but as Judge O’Marra noted today in his decision, that by 2009, the King of 1%, Weizhen Tang, was forced to admit to his investors in the spring of 2009, that the $52 – $60 Million raised was completely depleted!
With the denial of the mental health assessment for Weizhen Tang, today, the session became a question about hearing dates with Judge Alfred O’Marra; senior Government “Crown” proscecutors, lawyers, Mr. Robert Gattrell, and Mr. Gavin Macdonald; and Mr. Tang’s amicus lawyer, Peter Boushy, trading dates. Judge O’Marra and the Crown prosecutors pushing obviously for earlier dates.
Weizhen Tang’s future seems dimmer now. After today’s hearing, in the cold winter winds, Weizhen Tang, spoke with media briefly; continuing his rantings about the injustice of the system; including the recent not-guilty verdict of Nortel officials, in their criminal fraud case.
Weizhen Tang, the “Chinese Warren Buffett,” “King of 1%” runs out of the court
Looking more and more like the Chinese Bernie Madoff, Mr. Weizhen ran off towards Toronto City Hall; mentioning about a hearing at the Ontario Securities Commission, OSC, to fight his trading ban.
Tang noted that he is the “Chinese Warren Buffett,” the “King of 1%,” and that he would restore his name, and his investors’ losses, if Judge O’Marra and the OSC would allow Weizhen Tang to trade again.
Smiling, Weizhen Tang also noted that he was soliciting some letters of reference, from government and society leaders, that would show the good character of Weizhen Tang, to Judge O’Marra, the media and the people.
Mr. Tang, the Chinese Warren Buffett, the King of 1%, has been banned from trading securities in Ontario, since March, 2009. Mr. Tang continues to proclaim his trading ability, that could restore his name and reputation, and the money to his investors.