The Ontario Securities Commission (OSC) is warning Ontarians not to invest with convicted fraudster Weizhen Tang or any companies associated with him including Weizhen Tang and Associates Inc., Oversea Chinese Fund Limited Partnership Business and Weizhen Tang Corp.

Tang “recently announced his intent to resume investment activities, adding that he plans to create an investment fund targeting individual and institutional investors that would offer returns of 1% per week,” says the regulator.

Permanently banned

Tang is permanently banned from participating in Ontario's capital markets, and none of the companies associated with him are permitted to solicit investments from Ontario residents or to provide advice on investing in, buying or selling securities. He was criminally convicted of fraud in October 2012.

Ontario investors who have been approached by Tang are urged to contact the OSC Contact Centre at 1-877-785-1555 or [email protected].