Close X
Sunday, January 12, 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

    Scientists Make No Bones About Yukon Fossil Find, Redraw Camel's Family Tree

    Scientists Make No Bones About Yukon Fossil Find, Redraw Camel's Family Tree
    WHITEHORSE — Miners working the Klondike have uncovered an evolutionary treasure that one paleontologist says is as precious as gold.

    Scientists Make No Bones About Yukon Fossil Find, Redraw Camel's Family Tree

    Harper Sees Russian Ships In Baltic Sea While Sailing On HMCS Fredericton

    Harper Sees Russian Ships In Baltic Sea While Sailing On HMCS Fredericton
    GDYNIA, Poland — A Canadian warship carrying Stephen Harper in the Baltic Sea was shadowed by two Russian frigates on Wednesday, giving the prime minister a front-row seat in the naval chess game between the West and Russia.

    Harper Sees Russian Ships In Baltic Sea While Sailing On HMCS Fredericton

    Michael Ferguson Says Some Senators Failed To Give Evidence To Support Claims

    OTTAWA — The auditor general says the findings of wrongful spending in the Senate are justified despite accusations from some senators that his review was incomplete or flawed.

    Michael Ferguson Says Some Senators Failed To Give Evidence To Support Claims

    'Creative' Contracts Not Uncommon For Mps, Ministers, Says Former Duffy Aide

    'Creative' Contracts Not Uncommon For Mps, Ministers, Says Former Duffy Aide
    OTTAWA — A longtime Parliament Hill aide says it was not unusual for MPs and ministers to pay for services through "creative" contracts or even have outside businesspeople pay.

    'Creative' Contracts Not Uncommon For Mps, Ministers, Says Former Duffy Aide

    Two People On Motorcycle Injured In East Vancouver Hit And Run: Police

    Two People On Motorcycle Injured In East Vancouver Hit And Run: Police
    VANCOUVER — Police say two motorcyclists were injured after a hit and run involving an SUV in Vancouver. The crash happened at about 1 a.m. on Wednesday.

    Two People On Motorcycle Injured In East Vancouver Hit And Run: Police

    'Ruthless' Tattoo Suspect Wanted After Armed Robbery Of Vancouver Pot Dispensary

    'Ruthless' Tattoo Suspect Wanted After Armed Robbery Of Vancouver Pot Dispensary
    Police say 32-year-old Eric Chartrand entered the downtown business with another man on the evening of June 1 and that both had weapons.

    'Ruthless' Tattoo Suspect Wanted After Armed Robbery Of Vancouver Pot Dispensary