Close X
Tuesday, January 14, 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

    TransCanada Reaches Deals With Three More B.C. First Nations For Pipeline

    TransCanada Reaches Deals With Three More B.C. First Nations For Pipeline
    Specifics of the agreements weren't announced but TransCanada said they provide for annual legacy payments over the commercial life of the Prince Rupert Gas Transmission pipeline plus benefits upon signing and at other milestones.

    TransCanada Reaches Deals With Three More B.C. First Nations For Pipeline

    11-Year-Old Winnipeg Girl Is In Toronto After Word Of Possible Liver Donor

    11-Year-Old Winnipeg Girl Is In Toronto After Word Of Possible Liver Donor
    WINNIPEG — A Winnipeg girl battling a rare liver disease is in Toronto after receiving word there's a possible donor for a transplant.

    11-Year-Old Winnipeg Girl Is In Toronto After Word Of Possible Liver Donor

    Unvaccinated Ontario Child Develops Dangerous Tetanus Infection; Mumps Outbreak Also Reported

    Unvaccinated Ontario Child Develops Dangerous Tetanus Infection; Mumps Outbreak Also Reported
    TORONTO — News that an unvaccinated Ontario boy is in hospital with a dangerous tetanus infection is prompting calls from worried parents seeking information on how to get their children vaccinated.

    Unvaccinated Ontario Child Develops Dangerous Tetanus Infection; Mumps Outbreak Also Reported

    A Year Later, Bourque's Murderous Path Haunts Moncton Neighbourhood

    A Year Later, Bourque's Murderous Path Haunts Moncton Neighbourhood
    When Nadege Bujold looks out her front window and onto her quiet residential street, she is still sometimes haunted by the memory of a dying RCMP officer slumping to the ground.

    A Year Later, Bourque's Murderous Path Haunts Moncton Neighbourhood

    Uber In Court With City Of Toronto Over Legality Of Ride-Sharing Operations

    Uber In Court With City Of Toronto Over Legality Of Ride-Sharing Operations
    TORONTO — The City of Toronto and the ride-booking service Uber are in court today over the legality of the company's operations.

    Uber In Court With City Of Toronto Over Legality Of Ride-Sharing Operations

    Black Bear Shot Dead By Police North Of Toronto; Runaway Peacock Still Missing

    Black Bear Shot Dead By Police North Of Toronto; Runaway Peacock Still Missing
    NEWMARKET, Ont. — Outrage erupted on social media Monday after police shot a black bear in a suburban backyard just north of Toronto.

    Black Bear Shot Dead By Police North Of Toronto; Runaway Peacock Still Missing