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

    Vancouver Police Looking For Two People Who Approached Kids Near Elementary School

    Vancouver Police Looking For Two People Who Approached Kids Near Elementary School
    Const. Brian Montague says a silver Honda Civic sedan stopped just after 1 p.m. outside L'Ecole Anne Hebert Elementary School (on Killarney Street near East 56th Avenue).

    Vancouver Police Looking For Two People Who Approached Kids Near Elementary School

    Mounties Help Deliver Baby Fawn After Striking Deer In Nova Scotia

    Mounties Help Deliver Baby Fawn After Striking Deer In Nova Scotia
    HALIFAX — Two RCMP officers in Nova Scotia are being credited with saving the life of a baby fawn after striking its mother with a police vehicle.

    Mounties Help Deliver Baby Fawn After Striking Deer In Nova Scotia

    Four Winning Tickets Sold For Friday's $50 Million Lotto Max Jackpot

    There are four winning tickets for last night's $50 million grand prize — each of them worth 12-and-a-half million dollars.

    Four Winning Tickets Sold For Friday's $50 Million Lotto Max Jackpot

    Federal Response To Residential School Study Disappointing, Wynne Says

    COLLINGWOOD, Ont. — Ontario Premier Kathleen Wynne calls the federal government's response to recommendations from a six-year study of Canada's residential schools legacy "disappointing."

    Federal Response To Residential School Study Disappointing, Wynne Says

    Pot Is No Risk-free High For Teens With Developing Brains: Psychiatrists

    Pot Is No Risk-free High For Teens With Developing Brains: Psychiatrists
    ST. JOHN'S, N.L. — Scientific studies increasingly suggest marijuana may not be the risk-free high that teens — and sometimes their parents — think it is, researchers say.

    Pot Is No Risk-free High For Teens With Developing Brains: Psychiatrists

    Rahul Tears Into Modi, Mamata; Reaches Out To Jute Mill Workers

    Rahul Tears Into Modi, Mamata; Reaches Out To Jute Mill Workers
    Even as Modi and Banerjee inked the Land Boundary agreement and flagged off cross-border bus services in Dhaka, Gandhi questioned the bonhomie between the two leaders.

    Rahul Tears Into Modi, Mamata; Reaches Out To Jute Mill Workers