Close X
Friday, January 10, 2025
ADVT 
National

Lawyer Shamsher Kothari Says 2 Men Convicted In Multimillion Dollar Ponzi Scheme May Die In Jail

Darpan News Desk The Canadian Press, 30 Jun, 2015 01:18 PM
    CALGARY — The lawyer of one of two men convicted in one of the largest Ponzi schemes in Canadian history says his client could end up dying in jail.
     
    Shamsher Kothari (SHAM'-sheer ko-THAR'-ee), who is representing Milowe Brost, says his client is already in ill health.
     
    He says even if the sentence is less than the 14 years the Crown is asking for there is a "strong possibility" he will die in prison.
     
    Both Kothari and the lawyer for Gary Sorenson are asking the court to give their clients a sentence in the eight to 10 year range.
     
     
    The two men were found guilty of fraud and theft in February for an elaborate scheme in which investors were promised unrealistic returns.
     
    Brost was also found guilty of money laundering.
     
    Nearly 2,000 people were defrauded of between $100 million and $400 million in the Ponzi scheme.
     
    PIC: CHRISTINA RYAN / CALGARY HERALD

    MORE National ARTICLES

    New Brunswick Government Not Deterred By Quebec Concerns With Proposed Pipeline

    New Brunswick Government Not Deterred By Quebec Concerns With Proposed Pipeline
    FREDERICTON — New Brunswick's energy minister said Wednesday he's confident the Energy East pipeline will be built, despite concerns raised by Quebec Premier Philippe Couillard.

    New Brunswick Government Not Deterred By Quebec Concerns With Proposed Pipeline

    Harper Invites Muslim Families To 24 Sussex To Break The Ramadan Fast

    Harper Invites Muslim Families To 24 Sussex To Break The Ramadan Fast
    OTTAWA — Muslim families gathered at 24 Sussex Drive to break the Ramadan fast Monday night, the first time it's believed such an event has been held at the prime minister's official residence.

    Harper Invites Muslim Families To 24 Sussex To Break The Ramadan Fast

    B.C., Tsilhqot'in To Mark Historic Supreme Court Anniversary With Five-Year Deal

    B.C., Tsilhqot'in To Mark Historic Supreme Court Anniversary With Five-Year Deal
    It's an annual First Nations' rite of passage, but, this year's 200-kilometre trek over the wind-swept Chilcotin Plateau is different, says Tsilhqot'in Nation Chief Roger William, a former champion bull rider.

    B.C., Tsilhqot'in To Mark Historic Supreme Court Anniversary With Five-Year Deal

    Two Dead After A Gunman Opens Fire At Moka Cafe North Of Toronto

    Two Dead After A Gunman Opens Fire At Moka Cafe North Of Toronto
    Gunshots rang out around 8:18 a.m. Wednesday in the Moka cafe on Highway 7 near Islington Avenue in Vaughan, said York Regional Police Const. Andy Pattenden.

    Two Dead After A Gunman Opens Fire At Moka Cafe North Of Toronto

    Jail, Pay-Back-The-Cash Sentence For Brandie Bloor Who Defrauded Man For Breast Implants

    Jail, Pay-Back-The-Cash Sentence For Brandie Bloor Who Defrauded Man For Breast Implants
    Kamloops, B.C., woman who defrauded an elderly man to pay for cosmetic surgery including breast implants has been sentenced to nine months in jail and must return over $17,000 in cash, including interest.

    Jail, Pay-Back-The-Cash Sentence For Brandie Bloor Who Defrauded Man For Breast Implants

    Ex-olympics CEO John Furlong Denies Contradictions In Heated Cross-examination

    VANCOUVER — Former Vancouver Olympics CEO John Furlong's temper boiled over while he was under cross-examination at the civil court trial where a journalist accuses him of defamation

    Ex-olympics CEO John Furlong Denies Contradictions In Heated Cross-examination