> Warren Buffett Blog: Chinese Warren Buffet in court

Monday, February 4, 2013

Chinese Warren Buffet in court


The self-proclaimed “Chinese Warren Buffett” was sentenced Friday to six years in prison and ordered to pay a fine of $2.8 million.

Tang, lured 200 people into a $52 million Ponzi scheme by posing as an ultra-successful investor. But he’s now destitute, living on welfare and says he cannot compensate his victims.