Good Morning Ladies and Gentlemen of the Jury 50 days ago, you, ladies and gentlemen, were selected to be jurors for this historic jury trial. Now, why do I say historic. I say this because Weizhen Tang, in his own words, is the Chinese Warren Buffet and the King of 1% of weekly returns, a name worth 100 million dollars. You’ve seen his book infomercial, you’ve seen his promotional video on tv, you’ve seen videos of his beautifully orchestrated New Years Show and his 10,000 people march to the steps of Parliament Hill on April 13, 2008, and pictures of his good works in successfully raising funds for
the Chinese people who suffered horribly in the earthquake of 2008. And you’ve seen this man testify with utter resilience over the course of eight full days, railing time and time again against the Ontario Securities Commission for the investors. Weizhen Tang, surely, is unique, in standing up to, in his mind, the injustices of certain aspects of the Financial and Criminal Justice System. In essence Weizhen Tang is stating that he is a man of the people, for the people. From a small village in China to, in his mind, to one day being the world’s top financier. Weizhen Tang is charged with Fraud Over $5000, ladies and gentlemen. He says he’s not guilty. He says over 3 years he raised $60 million dollars, had redemptions in excess of $30,000 million, but is now charged with one count of Fraud Over $5000. Why does Weizhen Tang insist that he is not guilty. Firstly, he insists that any deprivation to the investors was not caused by any deceit, falsehood, or other fraudulent means. Secondly, he insists, that at no time did he ever, ever intend to defraud his investors. While His Honour at the end of the day, will define the element of ‘intention’ to you. And it is certainly narrowly defined. The fact of the matter is that, according to the law, the crown simply has not discharged its onus to prove beyond a reasonable doubt that Weizhen Tang knew, knew in his mind, that saying or doing any of these alleged transgressions could put at risk the economic or financial interest of the complainants. Query, why has Weizhen Tang, so courageously, so vehemently, so insistently stood up and railed against the OSC? Firstly, as testified to, he welcomes any and all investigation. Indeed, you heard him boldly tell the Crown that he welcomed Mr. Gattrell’s cross-examination and asserted those memorable words in this trial to ‘Bring it On’. He says he is not only guilty of fraud, but that he is anti-fraud. Why does he say this. Because throughout the trial, Weizhen Tang has insisted that the OSC doesn’t protect investors whereas Weizheng Tang did. In fact, Weizhen Tang throughout the trial, would indicate either in cross-examination or in testimony
that the OSC rarely gets its man. Weizhen Tang asserts that the OSC investigator, one Mr. Thompson, had the opportunity to discuss his case with his former colleagues at the Fraud detachment – the same detachment that charged Weizhen Tang in November of 2009 with Fraud. Weizhen Tang insists, that unlike Bre-X, Sino-Forest, and one Joe Feng Deng of MP Global Financial limited, he Weizhen Tang was charged with both OSC and Criminal Charges. And this, according to Weizhen Tang, was because of bias. Tang Bias And here are the reasons for the alleged bias on the part of the OSC: 1)
Weizhen Tang had a uniquely high profile in the Chinese Community. He singlehandedly funded the 2007, 2008, and 2009 Chinese New Years Show. He singlehandedly organized the two North American Chinese Wealth Summits in 2006 and 2009 that we’ve heard about. And he was the brains, the finances, the inspiring force behind the 4.13 10,000 man march to steps of Parliament Hill. 2)
Weizhen Tang points to his visit by the Canadian Security Intelligence
Service (CSIS) to question him about this 4.13 rally. 3)
Weizhen Tang insists that but for his television and letter campaign against the OSC prior to the criminal charge, he would have never been criminally charged. In essence, he’s the gadfly of the OSC. That is, a man who persistently annoys or provokes others with criticism, schemes, ideas, demands, requests, etc. 4)
As an example of this, you’ve heard about the Business News Network interviews Weizhen Tang did, along with the 25 point plan sent to all the media outlets indicating his defence and serious issues with the OSC.
To draw a very poor analogy, just as Martin Luther nailed his 95 Theses one October day in 1517 to the door of All Saint’s Church in Wittenberg, so
did Weizhen Tang email his 24 Theses to the doors of the media outlets of this great country. Again, this was prior to the criminal charge being laid. And it can be found at Exhibit 113 for your deliberation. Enumerated in his 25 points are the following:
#18 Investors have been suffering because of the OSC cease trading order and other actions, and should wait no longer so see justice.
#19 The OSC has its own agenda, image and interest, with little thought or concern for the rights of investors and the public interest. #20 The OSC mainly protects bank and other large institutions, while injuring individual investors. One can legitimately feel that the OSC has become the enemy of small business and individual investors. #21
It is informative that a large percentage of Weizhen Tang’s investors have always supported him to continue to trade for them, even after he was under investigation and hit with This unfortunate and unfair cease order. #22
Once can imagine a tragic new slogan for the Ontario Securities Commission and The American Securities Exchange Commission, after the way they have treated Weizhen Tang: “Too big to fail and too small to save.
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