Regulators in Quebec are warning investors against dealing with convicted fraudster Weizhen Tang.
The Autorité des marchés financiers (AMF) issued a warning about possible solicitations from Tang and his firms, including Weizhen Tang and Associates Inc., Oversea Chinese Fund Limited Partnership Business, and Weizhen Tang Corp.
Tang was convicted of fraud in Ontario in 2012 and permanently banned by the Ontario Securities Commission (OSC) in 2016. He was released from prison in 2015.
Now, the AMF is warning that Tang “recently announced his intent to resume his investment activities outside Ontario, but still in Canada, by creating an investment fund targeting individual and institutional investors.”
The AMF notes that Tang and his firms have never been registered in Quebec, and says that cease trade and freeze orders were issued against them in 2009.
The OSC also issued its own warning about Tang earlier this year.