Monday, 30 November 2015
Last updated 2 days ago
Jan 20 2010 | 12:10pm ET
Amidst a certain amount of confusion, accused hedge fund fraudster Weizhen Tang will have to wait until tomorrow to learn if he’ll be allowed to go free.
Justice of the Peace Paul Mishinski said the bail hearing, begun yesterday, will continue tomorrow in Toronto. While Tang has managed to find three people—his wife, a friend and his hairdresser—willing to put up their homes to help Tang make bail, one of the three plans to go to Hong Kong today. Tang’s own lawyer, Loftus Cuddy, wasn’t even at the hearing; he was at another trial elsewhere in Ontario.
Tang was arrested a week ago after returning to Canada from Shanghai. Canadian authorities have charged Tang with defrauding more than 100 investors in Canada, China and the U.S. of about US$30 million from 2006 through last March. The U.S. Securities and Exchange Commission has said that Tang confessed to running his scam for even longer in February, but Tang denies any wrongdoing.
Prosecutors are opposing Tang’s bail bid.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…