Saturday, 30 August 2014
Last updated 18 hours ago
Apr 22 2010 | 11:54am ET
Accused hedge fund fraudster Weizhen Tang has won his freedom—for now.
Tang, the self-proclaimed “Chinese Warren Buffett” accused of defrauding investors to the tune of US$30 million in a Ponzi scheme, was released Tuesday on C$150,000 bail. Tang had been jailed in Canada since his return to the country and arrest in January.
“I want a chance to prove my innocence,” Tang told reporters after the Toronto hearing. “That’s why I came back from China.”
Tang was arrested 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.
Under the terms of his bail, Tang may not leave Ontario and is barred from communicating with any of the investors or partners of his Oversea Chinese Fund hedge fund. He also must check in with police every Wednesday.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...