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

    New National Strategy Aims To Help Canadians Understand, Manage Finances

    New National Strategy Aims To Help Canadians Understand, Manage Finances
    TORONTO — A new national strategy announced Tuesday aims to help Canadians better understand and manage their finances. 

    New National Strategy Aims To Help Canadians Understand, Manage Finances

    Blacks To Shutter All 59 Photography Stores In Canada As Of August

    Blacks To Shutter All 59 Photography Stores In Canada As Of August
    TORONTO — Photography chain Blacks is shuttering all of its 59 stores in Canada as of Aug. 8 after 85 years in operation.

    Blacks To Shutter All 59 Photography Stores In Canada As Of August

    Harper To Visit Canadian Frigate In Baltic Sea, Polish Counterpart Says

    Harper To Visit Canadian Frigate In Baltic Sea, Polish Counterpart Says
    WARSAW, Poland — Prime Minister Stephen Harper will visit a Canadian frigate conducting military exercises with NATO forces in the Baltic Sea, the Polish prime minister revealed today.

    Harper To Visit Canadian Frigate In Baltic Sea, Polish Counterpart Says

    Mike Duffy's Former Executive Assistant Tells Of Office Procedures

    OTTAWA — Mike Duffy's former executive assistant is testifying again today at the trial of the embattled senator.

    Mike Duffy's Former Executive Assistant Tells Of Office Procedures

    Indian Great-grandfather Nazar Singh, Britain's Oldest Man, Turns 111

    Indian Great-grandfather Nazar Singh, Britain's Oldest Man, Turns 111
    Great-grandfather Nazar Singh was born on June 8, 1904, and has lived through two World Wars, the Titanic, the first moon landing and the invention of colour television.

    Indian Great-grandfather Nazar Singh, Britain's Oldest Man, Turns 111

    Police Say Two 11-Year-Old Girls Missing In Richmond Have Been Found

    Police Say Two 11-Year-Old Girls Missing In Richmond Have Been Found
    The RCMP in Richmond tweeted late Monday that both Emily Whitewood and Daniella Murphy "have been found."

    Police Say Two 11-Year-Old Girls Missing In Richmond Have Been Found