TORONTO -
A Toronto-based money manager accused of operating a Ponzi scheme says he will leave China and head back to Canada next week to face fraud charges.
The Business News Network reports on its website that Weizhen Tang says in an email that he'll return to Toronto on Jan. 13 and will report to police.
It's alleged that between January 2006 and March 2009, more than 100 people were defrauded of approximately $30 million through an online trading Ponzi scheme.
Toronto police allege there were victims in the United States, China and Canada, including one Toronto-area resident claimed to have lost $2.4 million.
Police say Tang solicited wealthy investors, as well as new Chinese immigrants, to pay the minimum investment of $150,000 required to participate in his Oversea Chinese Fund.
BNN says Tang, a self-proclaimed "Chinese Warren Buffett," maintained his innocence.
"I have nothing to do with fraud and I always put investors' interest first, put myself at risk first for investors," Tang wrote.
A Toronto-based money manager accused of operating a Ponzi scheme says he will leave China and head back to Canada next week to face fraud charges.
The Business News Network reports on its website that Weizhen Tang says in an email that he'll return to Toronto on Jan. 13 and will report to police.
It's alleged that between January 2006 and March 2009, more than 100 people were defrauded of approximately $30 million through an online trading Ponzi scheme.
Toronto police allege there were victims in the United States, China and Canada, including one Toronto-area resident claimed to have lost $2.4 million.
Police say Tang solicited wealthy investors, as well as new Chinese immigrants, to pay the minimum investment of $150,000 required to participate in his Oversea Chinese Fund.
BNN says Tang, a self-proclaimed "Chinese Warren Buffett," maintained his innocence.
"I have nothing to do with fraud and I always put investors' interest first, put myself at risk first for investors," Tang wrote.
A Toronto-based money manager accused of operating a Ponzi scheme says he will leave China and head back to Canada next week to face fraud charges.
The Business News Network reports on its website that Weizhen Tang says in an email that he'll return to Toronto on Jan. 13 and will report to police.
It's alleged that between January 2006 and March 2009, more than 100 people were defrauded of approximately $30 million through an online trading Ponzi scheme.
Toronto police allege there were victims in the United States, China and Canada, including one Toronto-area resident claimed to have lost $2.4 million.
Police say Tang solicited wealthy investors, as well as new Chinese immigrants, to pay the minimum investment of $150,000 required to participate in his Oversea Chinese Fund.
BNN says Tang, a self-proclaimed "Chinese Warren Buffett," maintained his innocence.
"I have nothing to do with fraud and I always put investors' interest first, put myself at risk first for investors," Tang wrote.
