Weizhen Tang seeks unusual and exceptional order from OSC: Tang’s lawyer

Weizhen Tang seeks unusual and exceptional order from OSC: Tang’s lawyer


Weizhen Tang seeks unusual and exceptional order from OSC: Tang’s lawyer


Since the cease trade was initially issued against Weizhen Tang on Mar. 17, 2009, it was extended, for several times, until Thursday Oct. 22, while Tang was ordered to cease all forms of trading.


The temporary cease trade order was, again, extended to Nov. 14, 2009 by the OSC today, and hearing on the matter was adjourned, under the request of Tang’s lawyer, to Nov.13, 2009.

唐的律师Loftus Cudy先生向大中报表示,他已于周四代表唐及签署了支持唐操盘同意书的投资者们向证监会要求一项动议听证,该动议要求在一名基金经理的监督下,准许唐在外汇市场进行交易。

Mr. Loftus Cudy, the lawyer of Tang told Chinese News that he filed a motion record on Thursday requesting an OSC order permitting Tang to trade in foreign currencies market, under the supervision of a portfolio manager, on behalf of Tang and Tang’s investors who have signed consents.


“Without Tang putting in any efforts at all, Tang’s investors, who lost money to Tang’s company, want him to keep trading… They believe in him, even though they are aware of various charges laid against him, including fraud and Ponzi charges,” said Cudy.


About 90 of Tang’s investors signed petition in April to allow Tang to continue trading. Twenty two of his investors signed consent forms attached to the motion record.


“The motion hearing will be a very exceptional and unusual proceeding,” said Cudy. “Never before has anyone who was charged with Ponzi or fraud still had his investors believe in him,” said Cudy.

“对其交易禁令的听证对唐来说可谓一场恶战。唐将要求被准许在一名基金经理直接和严密监视下使用其特殊投资方式为他的投资者们提供投资咨询…… 如果唐的要求真能获准,这会让我吃惊但我也会很高兴,唐和他的投资者们也会高兴。”

“The hearing on the cease trade order will be an uphill battle, where Tang will be seeking the right to be allowed to give investment advice using his special methodology under the direct and close supervision of a senior portfolio manager…. If Tang is qualified for what he is seeking, it would surprise me but delight me, Tang and his investors.

“唐坚信他是无辜的。他没做错任何事,相信自己是一名很了不起的证券交易者…… 他非常自信…… 我的一生中从来没见过像他这样的人。”

“My client is convinced that he is innocent, that he did nothing wrong, and that he is a great trader… He’s got a level of confidence… I have never seen anybody like that anywhere in my life……”


“Although Tang, on many occasions, has not followed my recommendations, including not talking to the media after being laid with fraud charges, he has never asked me to do anything that is inappropriate or against my conscience… He is a very smart person and I am proud to represent him,” said Cudy.

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