WORLD EXCLUSIVE: Canadian Justice System on Trial: Fraud Verdicts of Nortel, and Weizhen Tang, the Chinese Warren Buffett

WORLD EXCLUSIVE: Canadian Justice System on Trial: Fraud Verdicts of Nortel, and Weizhen Tang, the Chinese Warren Buffett

Toronto. January 16, 2013 –On Oct 30, 2012, an Ontario, Canada, Judge, “Crown” prosecutor lawyers, and jury presided over a guilty verdict for Weizhen Tang, a self-proclaimed, “Chinese Warren Buffett.”  Tang had some 200 investors, several lost their life savings.

On Monday, January 14, 2013,  another Ontario court acquitted 3 top executives of fraud at Nortel, formerly one of Canada’s and the world’s greatest telecommunications companies.   At its height, Nortel had about 90,000 employees, and was Canada’s largest company, with a market capitalization of some $300 billion.  Beyond the sad loss to shareholders, former Nortel employees, pensioners, and disabled pensioners are now fighting for the remaining $9 Billion in Nortel’s assets.  There are some $25 Billion in claims…

Ontario prosecutors had charged that three Nortel executives: the former CEO, Frank Dunn; the former CFO, Douglas Beatty; and Controller, Michael J. Gollogly.  Amongst their charges, they were accused of  manipulating cash reserves during 2002 and 2003 to create quarterly profits that triggered to them personally, bonus payments of some  $12.8 million.  They were fired in 2004, as Nortel fell into hell, restating several times, the Nortel financials.

Ontario Superior Court Judge, Justice Frank N. Marrocco, accepted their pathetic defence claims that Nortel executives had not conspired to enrich themselves.

Interesting, in the case of Weizhen Tang, Tang has always claimed that he did not enrich himself; that money “diverted” to his accounts, were for legitimate business expenses; that  he was doing his strategies for the ultimate benefit of his investors!

In Tang’s case, investors were given untrue financial statements that they were getting 1% returns per month!  The Government prosecutors claimed that Weizhen Tang was a giant ponzi scheme fraud that raised some $52 Million, to become one of the worst ponzi schemes in Canada and the world.

In the case of Nortel, Ontario Judge Marrocco rejected the prosecution claims that the 3 executives had mispresented the company’s finances.  They were just aggressive?!

Weizhen Tang is convicted by an Ontario court, for providing his investors with financial statements that did not represent the true state of the financial situation of the company.  

Nortel executives are found innocent by an Ontario court, for providing his investors with financial statements that did not represent the true state of the financial situation of the company.

 

Nortel shall become one of Canada’s and the world’s worst and most shameful legal cases.

Thus, Nortel became one of Canada’s largest and most shameful bankruptcies.  And with this verdict, in 2013, it looks like Nortel shall become one of Canada’s and the world’s worst and most shameful legal cases.

After the verdict, Nortel ex-CEO Frank Dunn, spoke pathetically about vindication, integrity, corporate  governance.   There are some $25 Billion in remaining claims against Nortel.  There are some $9 Billion in cash assets to the bankrupt Nortel.  No doubt, Nortel’s out-of-luck ex-suppliers, employees, pensioners, disabled pensioners, investors take great comfort, in Dunn’s kind after-verdict comments –some of these people, having lost their life savings with the bankruptcy of Nortel, after the several “restatements” of the financials of the Nortel, lead by Frank Dunn, Douglas Beatty; and Controller, Michael J. Gollogly…

 

Nortel, Cineplex, Weizhen Tang: What is the Canadian justice system doing?

The Ontario government prosecutors have not commented yet.  Perhaps, they shall appeal.   Otherwise, hopefully, the American SEC, Securities and Exchange Commission, shall seek justice; and launch its civil fraud charges against the former Nortel executives.

Interestingly, some have called Weizhen Tang, the Chinese Warren Buffett, and the “Chinese Bernie Madoff.”  Bernie Madoff got some 150 years in jail, upon conviction for his ponzi scheme fraud.  The Nortel officials are now free.   Weizhen Tang faces sentencing by Ontario Judge Alfred O’Marra.  Government lawyers, Mr. Robert Gattrell, and Mr. Gavin Macdonald, have sought 8-10 years in jail, for the convicted Chinese Warren Buffett and Chinese Bernie Madoff.

Recently, in Ontario, Canada, another high-profile financial-statement-fraud, Garth Drabinsky, former CEO of the famous Cineplex Theatre group and scandal, was convicted of fraud –cooking the books too.  He was sentenced to 7 years, reduced to 5 years on appeal.   In the USA, Madoff is facing 150 years…

With the cases of Weizhen Tang, Garth Drabinsky, and Nortel, the Canadian justice system is looking rather puzzling, if not downright inconsistent, unjust, tainted…  After all, as Weizhen Tang pointed out at his sentencing hearing the old but true maxim: Justice must not only be done, it must be seen to be done…”

The failed and unjust trillions in government bailouts and employment schemes?!

The world economic and social orders are collapsing, with the recent trillions of dollars for failed government bailouts, failed employment programs.  With the growing awareness by the peoples of Canada, the USA, China and the world, people are increasingly questioning the decisions of governments, the legal and financial systems.

The Canadian justice system was once considered an honoured, fair and just system.  

The system is now being questioned with such widely inconsistent, possibly tainted verdicts, as Conrad Black, Garth Drabinsky, Weizhen Tang, and Nortel.   Another former Nortel CEO, John Roth, was NOT even charged by the Ontario government in the Nortel case.  Or should we call it now the Nortel Canadian Justice System failure…?!

Though John Roth was Nortel CEO during the period of the financial “restatements” of Nortel, the Canadian justice system did NOT even charge Roth.  Roth is living happily on hundreds of millions of dollars in Nortel salaries, bonuses, stock options…

Frighteningly, Weizhen Tang claims that his prosecution is possibly a case of convenient scapegoating; with possible racist overtones.  In this world exclusive, Weizhen Tang points out that “unlike the Nortel executives, Weizhen Tang is not part of the Canadian society elite, not part of the Canadian corporate elite… not white…”

Is Tang correct in his accusations, or simply delusional?  Ironically, on January 11, 2013, during his sentencing hearing, Weizhen Tang’s amicus lawyer, Hamilton lawyer, Peter Boushy, applied for a mental health assessment of Weizhen Tang.  Tang’s presiding Judge Alfred O’Marra is expected to offer a decision on such a mental health assessment of Weizhen Tang this week, on January 18, 2013.

Canadian Justice System on Trial?!

Weizhen Tang muses about what is more crazy, his conviction or the not-guilty verdict for Nortel’s executives and their financial statement manipulations.  Whether Weizhen Tang successfully gets a mental assessment,  the “crazy” legal decision of Nortel now hangs over the Ontario and Canadian justice system.

Justice must not only be done, by it must be seen to be done, indeed….

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WORLD EXCLUSIVE: Canada’s worst and largest ponzi scheme fraud, Weizhen Tang, Chinese Warren Buffett; to become mental health problem case

WORLD EXCLUSIVE: Canada’s worst and largest ponzi scheme fraud, Weizhen Tang, Chinese Warren Buffett; to become mental health problem case; with surprise application for mental health assessment

Toronto. January 11, 2013 — Weizhen Tang, convicted of a $52 Million ponzi scheme fraud –Canada’s worst and largest ponzi scheme fraud– is revealing another sad and bizarre development; that Weizhen Tang is likely to agree to a motion for a mental health problem assessment. The motion coming from his amicus lawyer, Hamilton lawyer, Mr. Peter Boushy, Weizhen Tang’s amicus lawyer through his lengthy 28-day trial. The trial resulted in a guilty conviction against Tang by a jury.

Weizhen Tang does not see this assessment of his possible mental health problems, as a negative.  Instead, Tang claims that such an assessment would be another step in Tang’s journey to prove his innocence to the Judge, his investors, the media, and the good peoples of Canada, the US, China and the world.

With such a possible surprise development, an application to the presiding Judge, Justice Alfred O’Marra, the legal case of Canada’s worst and largest ponzi scheme fraud, Weizhen Tang, the self-proclaimed Chinese Warren Buffett; transforms into one of Canada’s highest-profile, and worst mental health problem cases.

Such a mental health assessment would likely take several months, if Judge Alfred O’Marra allows the application by amicus lawyer, Mr. Peter Boushy.

A delaying tactic by the convicted ponzi scheme fraud, Mr. Weizhen Tang?

Not likely, as Amicus Peter Boushy is not Weizhen Tang’s defence lawyer, but the “friend of the Court,” as amicus; appointed by the COURT, to ensure justice, and the proper administration of justice and the trial.  What has Amicus Peter Boushy then seen about Weizhen Tang, to have caused Amicus Peter Boushy to have such concern about Weizhen Tang’s mental health, as to seek an application to have Weizhen Tang’s mental health assessed?!

How will this mental health assessment influence the sentencing hearing, and eventual sentencing of Weizhen Tang, the Chinese Warren Buffett –or rather, Weizhen Tang, the Chinese Bernie Madoff, now convicted of Canada’s largest and worst ponzi scheme fraud of his time?

The fall of Weizhen Tang?

What a fall for Weizhen Tang, once one of the most prominent Chinese figures outside of China. Tang was a respected community and international leader, donating and leading campaigns to help relief efforts for disasters in China; organizing one of the world’s largest global goodwill rallies in early 2008; 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 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! Convicted on October 30, 2012, Weizhen Tang has had a twisting legal proceeding: jailed after his conviction, for lack of a surety; released with a new pair of surety; until today, where Tang has been battling again, during his sentencing hearing before Judge Alfred O’Marra, and senior Government “Crown” proscecutors, lawyers, Mr. Robert Gattrell, and Mr. Gavin Macdonald.

During the trial, Crown lawyers Gattrell and Macdonald successfully convinced a jury of Weizhen Tang’s guilt. The jury took only an hour or so, to return a guilty verdict against Weizhen Tang, the Chinese Warren Buffett. Since then, Weizhen Tang has continued to shout his innocence, showing no remorse to the public, the media, nor the Judge. Ironically, Tang’s behavior was causing speculation about Tang’s possible mental health problems.

Weizhen Tang’s sentencing

The sentencing hearing of Weizhen Tang resumed after the Christmas holiday on January 9, 2013. It was adjourned by Judge Alfred O’Marra, after he cut off various rantings by the convicted Weizhen Tang, that Judge O’Marra felt inappropriate to the sentencing hearing. Weizhen Tang had launched back into bold attacks against the problems of the justice and financial systems; views that Tang has been putting forward since his criminal fraud charges in 2009.

The sentencing was expected to conclude today.  But with this new surprise application over the mental health of Weizhen Tang, the King of 1%, the Chinese Warren Buffett; the future of Tang’s sentencing may be delayed several months again, if Judge Alfred O’Marra grants a motion for a mental health assessment.

What shall be the ultimate title and legacy associated to Weizhen Tang?    After today’s issue of Tang’s mental health problems,  shall Weizhen Tang fall to disgrace as the convicted Chinese Bernie Madoff?

Over the years, and even at trial, Tang has asked, challenged Crown prosecutors, Mr. Robert Gattrell, and Mr. Gavin Macdonald, and Judge O’Marra; asked and challenged to be allowed to trade again, so he can pay back his investors, and restore the Weizhen Tang name.

Tang’s sentencing hearing continues today.   The Crown prosecutors are seeking 8 to 10 years in jail, restitution, and a ban against Tang’s future trading.  Weizhen Tang is seeking no jail time, the right to future trading, and the restoration of his reputation.  Amicus Peter Boushy is seeking apparently, an assessment of the possible mental health problems of Weizhen Tang, the “Chinese Warren Buffett.”

Shall Weizhen Tang return in the future, and be remembered in history as Weizhen Tang, one of the world’s greatest investmen5t traders, greater than Warren Buffett, as Tang claims?  Shall Weizhen Tang be the “King of 1%“?

Legitimate mental health problems? 

The ultimate Chinese Warren Buffett, the ultimate Chinese Bernie Madoff?  The ultimate sentencing of Mr. Weizhen Tang may be delayed months away again, with this surprise  application development, today.

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Mayor Rob Ford appeal today. In two days, Chinese Warren Buffett, Ponzi Weizhen Tang sentencing continues

Mayor Rob Ford appeal today. In two days, Chinese Warren Buffett, Ponzi Weizhen Tang sentencing continues

Toronto –January 7, 2013– Funny coincidence again, or cosmic karma?   On November 26, 2012, Ontario Superior Court Justice, Judge Charles Hackland, found Mayor Rob Ford guilty of violating the Municipal Conflict of Interest Act.  Hackland ordered Mayor Ford to vacate his seat, within 2 weeks.  Ford successfully applied for a stay, so he wouldn’t have to resign yet, pending an appeal.  That appeal was heard today; before a three-judge panel of the Ontario Divisional Court.

Weizhen Tang, the Chinese Warren Buffett, convicted of largest ponzi scheme fraud in Canada

On October 30, 2012, a self-proclaimed Chinese Warren Buffett, named Weizhen Tang, was convicted of being a Chinese Bernie Madoff; convicted of organizing a $52 Million ponzi scheme fraud, one of the largest ponzi scheme frauds in Canada.

Two days from today, after Mayor Rob Ford’s appeal hearing, Tang’s sentencing hearing continues on January 9, 2013.   Tang and his amicus lawyer, Hamilton lawyer, Peter Boushy, who unsuccessfully assisted Weizhen Tang at trial, are not only seeking a lighter sentence against Weizhen Tang.  Tang, in fact, continues to proclaim his complete innocence, often with obscure, rambling  internet and twitter postings; where Weizhen Tang attacks the Canadian and Western justice, legal and financial systems. 

With a touch of the Mayor Rob Ford self-righteouness, of doing no wrong, ponzi scheme organizer, Weizhen Tang claims that he and his wife, Hong Xiao; son Vance; daughter Weiyi, suffered the most, from his ponzi scheme fraud activity –suffering worse than Tang’s investor victims?!  Indeed, Weizhen Tang, recently, revealed to the media and public, a secret that many people would keep private: that Weizhen Tang wife, Hong Xiao, suffered a mental breakdown because of Tang’s ponzi fraud activity.

Perhaps, Weizhen Tang can use his wife’s breakdown to balance the harrowing stories of his ponzi fraud victims, that include stories of Tang’s victims who considered committing suicide, after learning that Weizhen Tang was a ponzi scheme fraud, that had bilked them out of their life savings, in some cases.

Karma, indeed, as both Weizhen Tang and Mayor Rob Ford, both proclaim their utter innocence

There are sad, bizarre echoes between the cases of Mayor Rob Ford, and the Chinese Warren Buffett, Weizhen Tang; two larger-than-life titans, now facing the Canadian justice system. 

To this day, Ford continues to steadfastly deny that he has done any wrong.  What about the money that Mayor Ford received from companies doing business with the city?  According to Mayor Ford, the money involved was a small amount, $3100…  And besides, all the money went to buying football equipment for vulnerable youth…   And in any case, Mayor Rob Ford didn’t know he did anything wrong, because he never read the conflict-of-interest guidelines….

Tang too, acts almost puzzled by his conviction!  In an open letter on December 10, 2012, Tang stated “I did not even know the meaning of the word, much less how to run one (a ponzi scheme fraud).”

The thinking process of Weizhen Tang 

Tang claims he is innocent because he didn’t take any money either.  But at trial, Tang was forced to admit that he took some money, from investors; but that that money was ok, because it was NOT a lot of money… And besides, Tang deserved that money for managing the investor fund –though he lost some $19 Million of the investor fund, versus his very public claims of making amazing investment returns of 1% weekly!  These claims inspired another title used by Weizhen Tang: the King of 1%.

The Government prosecutors, Mr. Gavin Macdonald, and Mr. Robert Gattrell, claimed at trial, that Tang diverted to himself and associated companies, with his wife and daughter, some $2.8 Million.  In fact, in their sentencing submissions, the Crown prosecutors have sought a fine against Weizhen Tang of the $2.8 Million. 

In response, at trial, Tang did not seem to dispute this amount that Ontario Government prosecutors claimed; instead  Tang liked pointing out to the Judge, jury and media, that Weizhen Tang has no private helicopters or private planes, no mansions, no hidden bricks of money…  Critics note that there are no hidden monies that anyone has found yet.  Tang quips back, that the Government has failed to find any hidden money, in some 3 years, since charging Tang with criminal fraud, and Ontario securities violations.

Like Mayor Rob Ford, who did it for the children; Weizhen Tang claims now that he did it for his investors. 

With his legal problems, Toronto Mayor Rob Ford continues to “fight for the taxpayers” of Toronto.  While to this day, Weizhen Tang tweets and twitters that he is the “anti-fraud,” who can save the investors and people of the world; by showing up the “fraud” of the justice, legal, and financial systems of Canada, the US, and the world.

The decision is expected in a few weeks, in today’s hearing of Mayor Rob Ford’s appeal of Judge Hackland’s decision finding Mayor Ford guilty of conflict-of-interest. 

Weizhen Tang’s sentencing hearing resumes on January 9, 2013. 

While in the same next few weeks, in Weizhen Tang’s case, there is speculation amongst legal experts, that the presiding Judge, Justice Alfred O’Marra, is likely to impose a harsh sentence on Weizhen Tang.  As a former Government Prosecutor, a “Crown” attorney, Justice O’Marra is likely to set an example of Weizhen Tang; especially given Tang’s seemingly complete lack of remorse.  In fact, Tang has mused that if Mayor Rob Ford is forced to resign from office, then Weizhen Tang would run for Mayor of Toronto… 

As bizarre as that may sound, Weizhen Tang enjoys often reminding the media and the public, that he ran for Mayor –ironically, against Rob Ford, in the most recent election of 2010.  Ford garnered some  383,501 votes, 47% of the vote; Tang got some 890 votes, .11 %.   An interesting showing, given that Weizhen Tang was at that time, already charged with criminal fraud.

If Mayor Rob Ford loses his appeal, he would be required to resign his seat; and Toronto politicians, City Council, could  then decide to call a special election.  Amazingly, convicted ponzi scheme organizer, Weizhen Tang enquired, whether in the case of a special election, Tang could run for Mayor of Toronto, while appealing his conviction for fraud…

So today, January 7, 2013, Mayor Rob Ford returns to his office, the Office of the Mayor; pending the decision of his appeal of Judge Charles Hackland.  

While Weizhen Tang, the self-proclaimed King of 1%, the Chinese Warren Buffett, wonders if he should be returning to prison, convicted of being the largest ponzi scheme fraud in Canada, at the time.  Tang returns to court in two days, on January 9, 2013, to continue his sentencing hearing, before Justice Alfred O’Marra.

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Weizhen Tang, Ponzi Scheme Fraud, the Financial Tsunami Crisis, the Fiscal Cliff

Weizhen Tang, Fraud, and the Financial Tsunami Crisis

Toronto. December 26, 2012 — In 2004, the world had not yet heard about Weizhen Tang, the Chinese Warren Buffett; the hedge fund manager who would claim investment returns of 1% per week! But on December 26, 2004, the world was utterly shocked by one of the worst natural and human disasters, the Asian Tsunami of 2004. During the festive Christmas holiday season, the day after Christmas, audiences around the world were stunned, transfixed as the media broadcast the human tsunami tragedy, that wiped out entire coastal areas in the Indian Ocean; eventually claiming some 300,000 lives. Some 10 million were displaced or homeless.

The wonderful people of the world responded with compassion, love and generosity. Over $14 Billion in donations were pledged, it has reported over the years.

In 2006, Weizhen Tang, the self-proclaimed investment wizard, emerged onto the global scene. He has often called himself a positive, powerful, visionary tsunami. He was promoted as the great Chinese Warren Buffett, with extraordinary live trading demonstrations, in which potential investors would sit with him, in private trading sessions, drinking expensive wines and cognac; while Weizhen Tang achieved daily investment returns of 1% or more, per week!

Weizhen Tang, the Chinese Warren Buffett

By 2008, Weizhen Tang was one of the most prominent Chinese figures outside of China, a respected community and international leader. He donated and lead campaigns to help relief efforts for disasters in China; he inspired and organized one of the world’s largest global goodwill rallies in early 2008; encouraging global friendship and harmony, as criticism against the China Beijing 2008 Olympics, became animus against Chinese around the world.

Financial Tsunami of 2007-2009

By 2008, the term “tsunami” was used to describe the tragic global financial crisis of 2007, 2008 and early 2009, the worst since the 1930’s Great Depression. Some suggest that the economic and social collapse of today is the mere continuance of the 2008 Financial Tsunami. Through the “Financial Tsunami of 2007-2009,” some of the largest and oldest financial institutions in the USA and around the world collapsed. Stock markets crashed. Property and real estate values collapsed; continuing today, with many American homeowners now “underwater” –their properties worth less than the value of their mortgage owed to the banks. Company revenues and profits dropped, layoffs resulted. Unemployment spiked… Governments were “forced” to bailout banks and companies that were deemed “too big to fail.” Today, USA unemployment is at record highs, though the USA Government and media around the world, play the fraudulent statistics game, of not counting the number of Americans who have just given up on finding a job.

Consider Detroit, in 2010, the 13th largest city in America. By 2011, with an unemployment rate of some 30% –over 50% claimed by many experts; again, citing the statistical game, of NOT counting people that had given up seeking work…. The image of Detroit is both frightening and increasingly commonplace in America and around the world.

Fiscal Cliff, 2012-2013

Today, December 26, 2012, 8 years to the day of the 2004 Tsunami tragedy, we are faced by a new tsunami that threatens to push the world off the “fiscal cliff.” On December 31, 2012, the American government must make a new agreement, or else see the automatic launch of new taxes on Americans, and cuts to government spending.

Weizhen Tang, Ponzi Scheme Fraud, the Financial Tsunami Crisis, the Fiscal Cliff.

With this background, a strange intersection is about to happen of these seemingly unrelated issues.    On December 26, 2012, Weizhen Tang, no doubt, is considering his future.  Convicted of criminal fraud, of being a criminal ponzi scheme fraud, Tang returns to court on Janauary 9, 2013, to face Judge Justice Alfred O’Marra, to continue the sentencing hearing.  Prosecutor lawyers, called “Crown” lawyers in Canada, Crown Robert Gattrell, and Crown Gavin Macdonald, have asked for a sentence of some 8-10 years in prison for Weizhen Tang, the convicted Chinese Warren Buffett.

Tang has been issuing comments and posts to the internet, suggesting that Weizhen Tang shall be seeking not only a lesser jail term, but no jail term at all.  Amazingly, Weizhen Tang considers himself completely innocent still of all charges against him.  Tang partly blames his fall and the loss of investors’ money on the Financial Tsunami of 2007-2009.  The financial crisis caused the economy to drop, the stock market to drop, the values of his investments to drop; and the increase of investor withdrawals.  Tang was eventually forced with his wife, Mrs Hong Xiao Tang, to confront their investors and admit all the money was gone.

During the trial, prosecutors claimed Tang raised some $52 Million.  He returned some $30 Million to investors; lost some $19 Million in trading…  Quite the “tsunami” for Weizhen Tang, the Chinese Bernie Madoff.

Sadly, with the Fiscal Cliff days away, one of the lessons of the ponzi scheme fraud of Weizhen Tang, Chinese Warren Buffett/Chinese Bernie Madoff story is that governments, media and the public have not learned the lessons of the Tsunami of 2004, the Financial Tsunami of 2007-2009.

The massive fraud, waste, and corruption of some government and corporate officials continue.  America is on the verge of a fiscal cliff, as American government spending continues to explode, in a shrinking economy.   Politicians, government officials and the mainstream media smile, and ignore the looming fiscal collapse of America, and with it the world…  Is that a figure standing on the edge of the “fiscal cliff,” a little man playing a violin?  Is it Emperor Nero, playing the violin, oblivious to the collapse of his Roman empire, from decades of decade, fraud, waste and corruption…   Sadly, it sounds familiar now in 2012…

 

 

 

 

 

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Jail for Mayor Ford election fraud, and Weizhen Tang financial fraud

Jail for Mayor Ford election fraud, and Weizhen Tang financial fraud

December 15, 2012 — Coincidentally, two candidates who ran for Mayor of Toronto face accusations of fraud, from the City of Toronto elections of October 25, 2012,

One candidate, Rob Ford, won the election and is now an embattled Mayor of Toronto. While Weizhen Tang is now a convicted ponzi scheme fraud, allegedly cheating his investors of some $52 Million.

By further coincidence, both Mayor Rob Ford and Weizhen Tang, the self-proclaimed Chinese Warren Buffett, face major moments in the January of the New Year 2013, in their battles against fraud accusations.

An audit of Mayor Rob Ford’s campaign finances will be released next month.

Ford’s campaign allegedly breached the Municipal Elections Act, exceeding the legal spending limit, by over some $150,000!  And by having a Ford family company pay some  $78,000 of the campaign expenses!

If true, major breaches of election fraud behaviour, not easily explained away.

Meanwhile, in January 2013, the sentencing hearing resumes for Weizhen Tang, convicted of ponzi scheme fraud.   So far, Government “Crown” prosecutors, Mr. Robert Gattrell, and Mr. Gavin Macdonald, have indicated they are seeking a jail sentence of 8-10 years for the convicted Chinese Warren Buffett.

While Tang and his amicus lawyer, Mr. Peter Boushy, have offered a legal precedents, a case, suggesting that Tang should face a lesser punishment.

Tang has consistently claimed that he has no money, not even the money to pay for his legal defence.  During his trial, and now during sentencing, Tang has been self-represented; thus, the assignment by the Judge of lawyer, Peter Boushy, as amicus.

Weizhen Tang has consistently professed his innocence

Even after his conviction on October 30, 2012, Weizhen Tang claims that he should NOT face ANY jail time, though he is convicted one of the largest ponzi scheme frauds in Canada.   Weizhen Tan claims that he is innocent, and that the Canadian and American justice systems are racist against him; including individuals such as the presiding Judge and prosecutors in Weizhen Tang’s investigation and trial: Honourable Justice Alfred O’Marra; prosecutors, Crown Robert Gattrell and Crown Gavin Macdonald, and the regulatory securities OSC lead investigating officer, Jeff Thompson.

Upon the conclusion of the criminal case against Weizhen Tang, the OSC, Ontario Securities Commission, is likely to continue its legal actions against Weizhen Tang.

Legal experts suggest that Tang faces 5-7 years of jail, given his total lack of remorse for his investors; and his lack of respect for the legal system, Justice Alfred O’Marra.  Some experts suggest that being a former senior top prosecutor, Justice Alfred O’Marra, shall likely “come down very, very hard,” on Chinese Warren Buffett, Weizhen Tang; sending both a message to Tang, and to other potential criminals targeting the decent, hardworking peoples of Canada and the world.

While Mayor Rob Ford, if found to have violated the Act, and committed election fraud,  could be fined up to $25,000, or be removed from office.

In a strange, twisted twist, convicted ponzi scheme fraud, Weizhen Tang, suggests that should Mayor Rob Ford be removed from office, Tang would like to mount another run for Mayor of Toronto.  At the time of the City of Toronto 2010 election, Weizhen Tang was already formally charged with organizing one of Canada’s biggest criminal ponzi scheme frauds; and was actually on bail, as he campaigned for Mayor of Toronto, Canada’s largest city.

Weizhen Tang also suggests that the legal system should be tougher on true fraud schemes –though, of course, Tang, himself pleads innocence in his own ponzi scheme conviction.  Tang notes that there is NO, or very seldom, jail sentences for politicians, convicted of crimes and fraud.

Interestingly, Tang suggests that fraud by prominent politicians and financiers should face serious jail time! Tang points out that most Canadian financial frauds have NOT even faced criminal charges; citing Sino-Forest, Joe Deng.

Is Weizhen Tang joining the calls of other Toronto citizens and voters, who suggest that Mayor Rob Ford should face criminal charges and jail time, should he be found guilty of election fraud?!

So  January of the New Year 2013 offers the possibility that two of Toronto’s 2010 Mayoralty candidates shall be faced with fraud convictions: Mayor Rob Ford for election fraud; and Weizhen Tang for criminal ponzi scheme fraud.

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WORLD EXCLUSIVE FIRST: “CHINESE WARREN BUFFETT,” WEIZHEN TANG, RENOUNCES CANADA; WANTS TO BE REFUGEE TO CHINA?!

WORLD EXCLUSIVE FIRST: CHINESE WARREN BUFFETT, WEIZHEN TANG,  RENOUNCES CANADA, WANTS TO BE REFUGEE TO CHINA?!

TORONTO, CANADA –DECEMBER 10, 2012 —  In a WORLD EXCLUSIVE FIRST, it seems that the Chinese Warren Buffett, Weizhen Tang, is seeking to renounce Canada; renounce Canada’s and America’s justice and financial systems; and even renounce his citizenship!

Born in China, Weizhen Tang has lived in Canada some 20 years, making Toronto, his personal residence and place of business.  This October 30, 2012, Weizhen Tang was convicted of organizing at that time, Canada’s largest ponzi scheme; convicted of a ponzi scheme fraud of some $60 Million, with over 200 investors.

Convicted of criminal fraud, of being a ponzi scheme fraud, on October 30, 2012, Weizhen Tang, the Chinese Warren Buffett (or more appropriately, perhaps, now, the Chinese Bernie Madoff?!), just released an “open letter” that runs some 11 pages, addressed to:

“THE MINISTER OF ATTORNEY GENERAL OF ONTARIO, THE  HONOURABLE JOHN GERRETSEN  AND THE HONOURABLE JUSTICE ALFRED O’MARRA AND  ALL SWORN TO THE CROWN OFFICERS/AGENTS”

and titled,

THE  DECLARATION OF UNFAIRNESS, INJUSTICE, FLASE (sic) CONVICTION AND SENTENCSING (sic) HEARING OF WEIZHEN TANG

NOTICE OF UNDERSTANDING AND  INTENTIONS AND CLAIM OF RIGHTS AND NAME AND SEEKING  OF POLITICAL ASYLUM

WEIZHEN TANG’S “OPEN LETTER”

Today, Weizhen Tang, released this “open letter” to the media and then the public.  The “open letter” was released to the presiding judge, His Worship, Justice Alfred O’Marra; and to the top Justice Minister of Ontario, Canada, called the “Attorney General,” the Honourable John Gerretsen.

Writing in his now famous and infamous rambling style, Tang wrote in his “open letter” about the evils of the North American justice system; the racism against him, other Chinese companies, and corporate officials; of persecution by the presiding Judge, Judge Alfred O’Marra,Ontario Securities Commission, OSC, the Toronto Police.

Strangely, in his open letter today of December 10, 2012,  while claiming to be the “Chinese Warren Buffett,” Tang admits to losing staggering sums of money in the stock market: “It was true that we (“Weizhen Tang,” speaking)  lost over 15 million dollars out of 60 million dollars raised when the market meltdown  during the 2007 and 2008….”

Yet, despite his legal, formal conviction at trial on October 30, 2012, Weizhen Tang still professes his innocence of running a  ponzi scheme fraud: “I did not even know the meaning of the word, much less how to run one.”

Weizhen Tang jumps quickly in his open letter, to challenge the Canadian and American justice and financial systems: “I am an innocent and victim of the financial market meltdown  of 2008 and 2009,  and one of the biggest victim of the incident. I did nothing criminal, but unfortunately I am charged fraud over  $5000 and convicted falsely even after 50 days trial. I wonder why?”

Is Weizhen Tang delusional, the Chinese Buffett, or the fallen Chinese Bernie Madoff now?! 

In this astounding open letter, Tang challenges that the Government and prosecutors failed to find any ponzi scheme fraud money!

Strangely, sadly, at trial, top Government “Crown” prosecutors, Mr. Robert Gattrell and Mr. Gavin Macdonald, entered into evidence, extensive amounts of forensic accounting material outlining the general movement of both tens of millions of dollars, from the investors of Mr. Weizhen Tang; and the specific movement of several millions of dollars to Weizhen Tang, his wifeMrs Hong Xiao, and his associated companies.  Tang did not dispute the forensic accounting.

Weizhen Tang, the Chinese Warren Buffett, did, and does maintain now, his claim that the justice system is racist; against him; a system persecuting him, making Weizhen Tang a convenient scapegoat, while bigger fish escape without criminal charges.

Tang boldly writes, “The reasons I was charged fraud criminally are: I am a Chinese (emphasis added), I am successful, I am high profile and prominent….  I am not the only Chinese and Chinese financial company charge fraud by OSC… number of Chinese companies… attacked, charged and destroyed by OSC.  … It is not real fraud, it must be culture differences, misunderstanding, discrimination.”

It shall be intriguing to see how the Chinese Warren Buffett, Weizhen Tang, justifies such bold, unequivocal claims of racism against him, supposedly, by the Canadian and American justice systems.

Sadly, while trying to make important points about the injustice of the Canadian and American justice system; Tang seems to ramble, a la “2 1/2 Men” acting star, Charlie Sheen, now also infamous for his public rants and meltdowns.  In fact, there seems to be an eerie echo between Weizhen Tang and  2 1/2 Men’s Charlie Sheen.  

Consider Charlie Sheen’s famous rant, “I’m different. I have a different constitution…brain…. I got tiger blood, man.”   

And Weizhen Tang’s utterance from his “open letter” today:

“I found your words and actions unreasonable and most certainly, dishonourable, and I again, lost faith in a justice system that I have long revered and respected…  I am  a hard-working and honest flesh and blood man of “Chinese-Canadian” appearance mainly due to a blatant conflict of interest…  I often feel that I am railroaded, and that intimidation is all that awaits me since this seems to be the modus operundi (sic) of this de facto “legal system”.  I look for justice and honour in our de facto government and its leaders, but I see so little.

Sadly, as promised, since his fraud charges of 2009, Weizhen Tang continued to lash out against the perceived evils of the Canadian and American justice and financial systems.  But his bold challenges to the legal, justice and financial system are soon lost in the noise of his ramblings, it seems…

Weizhen Tang’s open letter speaks even of charging fees to government officials, who do him wrong.  Tang demands millions of dollars per day in fees, should government officials subject Weizhen Tang to judicial orders or jail time: “$10,000 per hour  24 hours a day,  7 days a week for stop and waste of precious  business time.”

Five Feasible Resolutions to Judge Alfred O’Marra, and Attorney General John Gerretsen

Tang goes on in his “open letter,” to offer  “5  feasible resolutions” in his trial and sentencing, to presiding judge, Justice Alfred O’Marra; and the Ontario Government’s Attorney General, Honourable John Gerretsen.

Incredibly, Weizhen Tang, the self-proclaimed, Chinese Warren Buffett, offers to renounce his Canadian citizenship, and seek political asylum.  Sadly, there are echoes there too, between Weizhen Tang’s “open letter” and the recent mad rantings of famous antivirus software creator, John McAfee, now embattled in denials of involvement in killing his neighbour, in Belize.

In a surprise statement in his “open letter” of December 10, 2012, Weizhen Tang offers to renounce his citizenship and seek political asylum in China, his “home country.” Tang writes:

 I could voluntarily revoke my Canadian citizenship and a hostile government of Ontario and Canada and I’d like to seek political asylum to my home country,  leave this country to my home country, real home  to work and serve our own people and the country or any other free country and countries who like my talent, experience and expertise and skills, I  would like to end the slavery of this country to me , will seek political asylum open,  loud and clear.

Sadly, Weizhen Tang’s “open letter” of December 10, 2012, is  “loud” but not so “clear,” as the Chinese Warren Buffett thinks.

The sentencing of Weizhen Tang continues on January 9, 2013, before Judge Justice Alfred O’Marra in Toronto.

Before the sentencing hearing was adjourned by Judge O’Marra, senior Government “Crown” prosecutors, Mr. Robert Gattrell and Mr. Gavin Macdonald, were seeking 8-10 years of jail time for the Chinese Warren Buffett, Weizhen Tang.

Before adjourning for the Christmas holiday, Weizhen Tang and his amicus lawyer, Mr. Peter Boushy, challenged with a single case; suggesting less jail time for Mr. Tang, would be appropriate.

Today, December 10, 2012, it seems that the Chinese Warren Buffett, Weizhen Tang, sought to go beyond citing case law, and challenge the Canadian and American legal, justice and financial  systems with his “open letter.”

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Sentencing of Chinese Warren Buffett, Weizhen Tang

Sentencing of Chinese Warren Buffett, Weizhen Tang

Toronto –November 28, 2012 — The Chinese Warren Buffett, Weizhen Tang, begins his sentencing hearing today; after being convicted of being a Chinese Bernie Madoff.  Convicted on October 30, 2012, Tang began his sentencing hearing today, in front of Justice Judge Alfred O’Marra.

Various victim impact statements were read aloud in court today, outlining the tragic result to some of Weizhen Tang’s  investors; some stating they lost life savings, or are in further debt, having borrowed money to invest in the Chinese Warren Buffett.  Tang investors spoke of deep depression, marriage breakup, and thoughts of suicide; after learning of Weizhen Tang’s massive ponzi scheme fund.

Crown Gavin Macdonald noted that of the 8 aggravating factors in the Criminal Code regarding the sentencing for fraud, Weizhen Tang committed 5, or “maybe 6.”

Aggravating factors in sentencing for fraud included:

1  significant degree of planning.  Tang’s fund had been running several years, in a very public, sophisticated manner, suggested Crown Gavin Macdonald.

2  large number of victims.  Tang had some 200 investors.

3  devastating effect.  Victim impact statements included such comments, as the victim would “rather die,” after losing their life savings in Weizhen Tant’s ponzi scheme fraud.

4  took advantage of high regard in the community.  Tang spoke often during the trial, Crown Macdonald noted, of Tang’s high community presence and image.

Crown Attorney Gavin Macdonald stated the Government was seeking a jail sentence of 8-10 years against Weizhen Tang!

Tang and his amicus lawyer, Mr Peter Boushy, refused to offer Mr. Tang’s expectation of jail time.  In fact, Lawyer Boushy suggested that Mr. Tang is still resisting the very idea that Weizhen Tang has been convicted of fraud, and is looking at jail time!

Weizhen Tang, in fact, had asked Judge Alfred O’Marra to adjourn today’s sentencing hearing; claiming that he had NOT had time to prepare properly, having only been released from jail last week, after being convicted on October 30, and jailed on October 31.   Judge O’Marra, and the sentencing hearing began, to a full courtroom, Courtroom 4-5, in downtown Toronto.

Pre-sentencing Report on Weizhen Tang: NO REMORSE

The pre-sentencing report was raised by Crown Attorney Gavin Macdonald, noting that Weizhen Tang had no remorse for his investor victims; and that Tang took no responsibility for his ponzi scheme fraud.

Tang shot back that he took full responsibility, and still feels responsible to pay off his investors.

In any case, Crown Attorney Gavin Macdonald summarized the Crown’s sentencing request as 8-10 years in jail; with forfeiture from Weizhen Tang, the Chinese Warren Buffett, of some $2.8 Million, $2,849, 459. AND  a lifetime ban against Weizhen Tang, in working in any position dealing with the assets, real property, etc of other peoples.

Sentencing hearing adjourned

As Tang’s amicus lawyer, Peter Boushy, has other trials over the next few weeks, Judge Alfred O’Marra adjourned the sentencing hearing to January 9, 2013.   Crown Attorney Gavin Macdonald had stated the Crown’s desire to wrap up the case before the Christmas holiday.

Fortunately, Justice Judge Alfred O’Marra sided with “justice,”  versus the timetable of the Crown prosecutors.   Tang was clearly out of his element as the Crown cited various case law, justifying their call for a sentence of some 8-10 years, for the now convicted Chinese Warren Buffett.

Through today’s first day of the sentencing hearing, Weizhen Tang continued to profess his innocence; stating several times still that he has not committed any ponzi scheme fraud.

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