The Weizhen Tang Defence (closing arguments)

唐炜臻

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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唐炜臻

Tang – Impecunious



Weizhen Tang indicates that there is absolutely no evidence as confirmed by the accountant in this trial that he diverted monies to any offshore accounts, that he lived a lavish lifestyle etc that one could perhaps expect from a fraudster. In fact Weizhen Tang testified and provided documents about his inability to pay for a lawyer, pay for his property taxes, pay for a forensic accountant of his own, or even  the gas in his house. You heard Weizhen Tang testify that he and his family members had to attend for a month or two to the local Young Man’s Christian Association (YMCA) to take showers. Further, he testified as to a court order to sell his own home, he provided letters from the bailiff’s office concerning monies owing, and upon his release for jail, there’s a picture of him in evidence at a garage sale he conducted to raise $3000.00. But perhaps the most real testimony in this regard was when Weizhen Tang cried like a broken man when speaking to the fact that he had to collapse his only son’s education fund. Of course, on this point, His Honour will instruct you that you are to make your decision in this case without sympathy, prejudice or fear. You will note, however, that Weizhen Tang broke down just before lunch on Wednesday, October 17, and when the afternoon court session commenced, Weizhen Tang introduced a UPS envelope with an accompanying letter advising him that TD Bank headquarters was shutting down his personal account. Indeed, there were 6 letters delivered to his doorstep that day, indicating that everyone of his family members were having their TD accounts shut down. Seeing that Weizhen Tang pays his mortgage to the TD bank through his TD account, he queried how he would continue. Strange, this would happen in the middle of his trial. But suffice it to say, it speaks to his impecunious nature. That is, that Weizhen Tang is barely hanging onefinancially. Indeed, Weizhen Tang’s defence of the fraud allegation, can be partly summed up in the following words – “If I’m a fraudster, then show me my money”



Now, of course to prove the fraud allegation, the crown need not show that Tang or any other accused for that matter has piles of money horded in some account. But again, strange, that a man accused of intending to defraud his investors would mortgage his home to provide a cheque for $236,000 to his investors when the Weizhen Tang ship was sinking. Strange too, that at tab 16 of the Exhibit 84, the analysis of his funds report, that upon receiving 1 million dollars from Lucy Lu that he would immediately pay 8 investors tens and hundreds of thousands of dollars.



Tang Bias



If I could return to Tang’s bias argument concerning the OSC. You will recall that the expert, who is also an OSC investigator, accountant Michael de Verteuil, wrote at paragraph 6 of his narrative, and I quote, “Personal bank records were not sought or obtained because they were considered beyond the scope of this analysis and therefore funds transferred to the personal account of Tang or the joint account between Tang and Hong Xiao were not analyzed further”



However, when the accountant was questioned about this, he noted that he was mistaken and that Tang’s personal records were indeed sought and obtained, but that he simply did not think it worth while to  look into them.



Now,  Weizhen Tang asserts that his personal records, which I understand can be found in the Ex 81 disk, will show much monies coming out to pay for the New Year’s Shows, Rallies, Wealth Summit and fund raising event and donations etc.



Query, if  Weizhen Tang’s personal records are not important to this case and Weizhen Tang’s lack of personal gain were not important to this case, why  would the crown attorney spend a good part of his cross-examination late Thurday afternoon last, showing cheques made from Weizhen Tang’s business to him personally.



In other words, if the accountant is right in asserting Tang’s personal finances are not important, and if Tang is wrong in emphasising his lack of personal gain in this case, then why would the crown spend so much time on these cheques to Tang.



Tang says to you ladies and gentlemen, that to be fair, it’s important for you to look into his personal finances, and invites you to examine exhibit 81 with the utmost scrutiny, in order to give you a balanced picture of what was really happening at the time.





Petitions





Weizhen Tang states have you ever heard a fraud case of where many of the investors are signing a petition to have the alleged fraudster trade again. Strange?



He states what kind of fraudster spends his own money to pay investors, instead of trying to horde as much money as he can when the ship is sinking. Tis a bit odd, isn’t it?





Tang notes, what kind of fraudster, would insist on fighting the OSC on behalf of himself and investors, and invite the authorities to actually investigate him. Isn’t this too counterintuitive?



He queries that if he is some type of manipulative genius purposely committing a fraud on his investors, why is that he ends up having to take cold showers at the YMCA,  collapsing his only son’s education fun, and have no money for his defence?



He mentions, why would he agree to face his investors at all these meetings, if he truly has something to hide. If you’ve got something to hide, wouldn’t you run.





Straight from Weizhen Tang





Mr. Tang testified that the numbers on the account balances were true promises or targets.  He notes that he was not deceiving anyone at any time.



He states that he paid all the investors at all material times except that after the financial tsunami and the OSC interruption he was prevented from being able to carry out his obligations.



He notes that his real time trading ability vindicates his ability and skill to pay investors. He notes that the five day live trading demonstration and its reflected results on the account balances shows you that what his saying is true. In fact, Tang testified that many times he would provide real time trading demonstration to his investors and that the results thereof were accurately reflected in the account balances.



He further notes that using money from new investors to pay old investors is an industry standard. That new investor money is important cash flow. He asserts it’s only a crime to actually take money from investors.



He further notes that the key is the intention to steal money or defraud investors. And of this he is not guilty.



He argues that contrary to the crown’s assertions that Tang’s investors never knew the risks, the investorsG in fact, had a variety of ways to control the risk. They could check on his real time trading for example. And he further points out to the fact that there were 30 million dollars plus in actual redemptions at the time of the crisis.

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九段

祝贺老唐未被当庭收监！祝贺祝贺！

该帖已经同步到51微博 紫玉龙山 的微博

纸纱窗

这世界上没有一个义人，愿上帝怜悯并祝福我们
没有上帝的怜悯，我们不能还活在这里，
没有上帝的祝福，我们怎能生活的这么好这么自在？

华人岛主

老唐, 挺住.

英语审完了, 再要求用汉语重审. 换成中文法官, 监察官, 陪审团. 估计结局大不相同.

咱不能哑叭吃黄莲, 有口难言.

华荣

29日星期一是唐炜臻案双方对决的最后一天，亮剑

唐炜臻的荣辱，也许是海外华人的荣辱，不一定，唐炜臻是精英还是败类，有罪无罪，华人唐炜臻能胜能负就此一决。

人做事，天在看，我已经尽了全力，艰苦奋斗，我自己认为我为投资人，为海外华人，为中国人，为世界人民反欺诈，剩下的只有上帝才能所为，大家不能完全袖手旁观，也要有所贡献，星期一，如果是您是我的一个朋友，同胞，请您和您的家人，朋友，有正义感，有骨气，血性的人，可能的话是你们出山，您需要表现表现，其实不难，是您和你们出力的时候，到场就是表现，您的表现很重要，到多伦多市中心361  university ave ，4-4 法庭助威。我们邀请了很多朋友到场，人越多对大家越好。

法庭给我指派的律师将请自己的夫人到场助威，观摩。

机会恩赐于有准备的头脑，上帝宠爱经得起考验的人，上帝有眼保佑好人。


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唐炜臻 发表于 2012-10-27 21:03

希望尽早让大家知道结果。到时候祝贺祝贺。