News & Events

News Release


Ontario
Securities
Commission


Floor 22 - 20 Queen Street West
Toronto, Ontario
M5H 3S8
Commission des
valeurs mobilières
de l'Ontario
FOR IMMEDIATE RELEASE

May 28, 2019
 

OSC Investor Alert: Convicted Fraudster Weizhen Tang

 

TORONTO – The Ontario Securities Commission (OSC) is warning Ontario investors not to invest with convicted fraudster Weizhen Tang or any companies associated with him including Weizhen Tang and Associates Inc., Oversea Chinese Fund Limited Partnership Business and Weizhen Tang Corp.

Mr. Tang recently announced his intent to resume investment activities, adding that he plans to create an investment fund targeting individual and institutional investors that would offer returns of 1% per week.

Mr. Tang is permanently banned from participating in Ontario’s capital markets, and none of the companies associated with him are permitted to solicit investments from Ontario residents or to provide advice on investing in, buying or selling securities.

In October 2012, Mr. Tang was criminally convicted of fraud. Additionally, he remains subject to an April 2016 Commission order, which permanently bans him from trading or acquiring any securities or derivatives, working as a registrant in the financial industry, or serving as a director or officer of a company or investment firm. The Order can be viewed at www.osc.gov.on.ca.    

Ontario investors who have been approached by Mr. Tang should contact the OSC Contact Centre at 1-877-785-1555 or inquiries@osc.gov.on.ca.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk.  Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at www.osc.gov.on.ca.

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For Media Inquiries: media_inquiries@osc.gov.on.ca
For Investor Inquiries: OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)
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