Close X
Monday, January 13, 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

    Preventable Injuries Kill Dozens Of Canadians Daily And Cost Billions To Economy

    Preventable Injuries Kill Dozens Of Canadians Daily And Cost Billions To Economy
    TORONTO — Preventable injuries kill dozens of Canadians every day and cost the country's economy billions of dollars, says a new report released Wednesday.

    Preventable Injuries Kill Dozens Of Canadians Daily And Cost Billions To Economy

    Average Net Worth Of Canadian Families Up 73 Per Cent Between 1999 And 2012

    Average Net Worth Of Canadian Families Up 73 Per Cent Between 1999 And 2012
    OTTAWA — Statistics Canada says the average net worth of Canadian families rose 73 per cent between 1999 and 2012 after adjusting for inflation.

    Average Net Worth Of Canadian Families Up 73 Per Cent Between 1999 And 2012

    Google Canada Boss Prods 'slow' Canadian Businesses To Seize Digital Tools

    Google Canada Boss Prods 'slow' Canadian Businesses To Seize Digital Tools
    VANCOUVER — An American transplant leading Google Canada says Canadian businesses are moving "bad slow" in adopting digital technology.

    Google Canada Boss Prods 'slow' Canadian Businesses To Seize Digital Tools

    B.C. Mountie Named In Harassment Lawsuit Now Under Suspension By Force

    B.C. Mountie Named In Harassment Lawsuit Now Under Suspension By Force
    VANCOUVER — An RCMP officer who has been the public face of the force in British Columbia for several years has been suspended with pay.

    B.C. Mountie Named In Harassment Lawsuit Now Under Suspension By Force

    Police Reports On Last October's Attack On Parliament Hill To Be Released Today

    OTTAWA — Censored versions of police reports on Michael Zehaf Bibeau's attack on Parliament Hill last October are to be released today in Ottawa.

    Police Reports On Last October's Attack On Parliament Hill To Be Released Today

    Bail Too Risky For Canadian Diplomat's Teen Son, Miami Judge Decides

    Bail Too Risky For Canadian Diplomat's Teen Son, Miami Judge Decides
    Granting bail to a Canadian teenager charged in a double killing that left his brother dead is too risky given the possibility he could easily flee the United States, a Florida judge ruled Wednesday.

    Bail Too Risky For Canadian Diplomat's Teen Son, Miami Judge Decides