Toronto Police Department Seeks Assistance In Locating Alleged Ponzi Suspect Weizhen Tang; Says He Purported To Be The ‘Chinese Warren Buffet’

Weizhen Tang Ponzi scheme Toronto Police.

Weizhen Tang: Wanted by Toronto Police.

Police in Canada are looking for Weizhen Tang, 51, to arrest him in an international investment-fraud case.

The Toronto Police Department says investigators believe Tang duped more than 100 investors in a $30 million Ponzi scheme. A warrant has been issued for Tang’s arrest.

Investigators say fraud victims exist “across Canada,” and in the United States and China.  It is believed Tang operated the fraud scheme at least between January 2006 and March 2009.

Police say Tang billed himself as the “Chinese Warren Buffet” and engaged in “online trading.” He also is in trouble with Canadian regulators and the U.S. Securities and Exchange Commission, which sued him in April 2009

Here are Wang’s vital statistics, according to Toronto police:

  • Lived/lives in Toronto
  • Chinese descent
  • 5 feet, 2 inches tall
  • 130 lbs.
  • Short black hair
  • Glasses

Anyone with information is asked to contact police at 416−808−7238, Crime Stoppers
anonymously at 416−222−TIPS (8477), online at, or text TOR and your message to CRIMES (274637).

Along with suing Tang, the SEC also sued also Plano, Texas-based investment adviser WinWin


Capital Management LLC. Two other Tang entities were named relief defendants: WinWin Capital Partners LP and Bluejay Investment LLC, which did business as Vintage International Investment LLC.

The SEC’s complaint alleges that Tang told investors in February 2009 that in an effort to conceal substantial trading losses and attract new investors to the Oversea Chinese Fund, he posted false profits on investors’ account statements and used funds from new investors to return principal and pay out at least $8 million in “fake” profits to other investors.

According to the SEC’s complaint, Tang raised capital for the hedge fund from U.S. investors by offering and selling limited partnership interests in WinWin Capital Partners since November 2007.

WinWin Partners had raised, as of March 10, 2009, almost $17.3 million in principal investments from approximately 75 U.S. investors, most of whom are located in the Dallas area but also in California.

At least $9.6 million of the money raised from U.S. investors remains unaccounted for, the SEC said in April 2009.

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One Response to “Toronto Police Department Seeks Assistance In Locating Alleged Ponzi Suspect Weizhen Tang; Says He Purported To Be The ‘Chinese Warren Buffet’”

  1. First I am shocked to see the Canadian’s charging someone with running a Ponzi. Warren English has 3 Cease & Desist orders, has run at least 4 other Ponzi’s himself since, and pimped numerous others, and they haven’t laid a glove on him. But maybe this is a positive sign they are finally going to start taking action against these crooks. Milos Brost and now Tang.

    They might want to check the Philippines to see if he fled there. Nick Smirnow of P-2-P fame split there hoping to avoid extradition. If he did, they could do a daily double extradition package. Might get cheaper tickets on the airplane too for multiple bookings.

    We have a few we would like for them to take down. Maybe finally Canada doesn’t like being called the scam capital of the world. One can hope.