{"id":15224,"date":"2010-04-21T07:31:50","date_gmt":"2010-04-21T11:31:50","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=15224"},"modified":"2010-04-21T07:36:30","modified_gmt":"2010-04-21T11:36:30","slug":"hedge-fund-manager-released-on-bail-in-texascanadachina-investment-fraud-case","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2010\/hedge-fund-manager-released-on-bail-in-texascanadachina-investment-fraud-case.html","title":{"rendered":"Hedge Fund Manager Released On Bail in Texas\/Canada\/China Investment Fraud Case"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/04\/4850_NpAdvHover2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-15230\" title=\"Weizhen Tang\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/04\/4850_NpAdvHover2-299x207.jpg\" alt=\"\" width=\"199\" height=\"138\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/04\/4850_NpAdvHover2-299x207.jpg 299w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/04\/4850_NpAdvHover2.jpg 562w\" sizes=\"auto, (max-width: 199px) 100vw, 199px\" \/><\/a> New York (HedgeCo.net) &#8211; Weizhen Tang was jailed in mid-January this year on the charges of running a multi-million dollar Ponzi scheme. The SEC said that the defendant orchestrated the fraud through an overseas hedge fund and a Texas-based investment adviser.<\/p>\n<p>Tang was released after a bail review on $150,000 bail, the Toronto Sun reported. The bail conditions order the hedge fund manager to stay in Canada and do not permit him from communicating with investors or hedge funds.<\/p>\n<p>The fraud is alleged to have began as early as 2004, and through the hedge fund Tang raised between $50 million and $75 million from more than 200 investors. According to the SEC complaint, more than $51 million was allegedly involved in the hedge fund failure.<\/p>\n<p>A Judge also previously granted a temporary restraining order, asset freeze, and other emergency relief against the defendants.<\/p>\n<p>\u201cI want a chance to prove my innocence, that\u2019s why I came back from China,\u201d Weizhen Tang told reporters at the Toronto Sun.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; Weizhen Tang was jailed in mid-January this year on the charges of running a multi-million dollar Ponzi scheme. The SEC said that the defendant orchestrated the fraud through an overseas hedge fund and a Texas-based investment [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-15224","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/15224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=15224"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/15224\/revisions"}],"predecessor-version":[{"id":15227,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/15224\/revisions\/15227"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=15224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=15224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=15224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}