Suspect in Ponzi scheme makes own closing argument; says he has the truth

Darpan News Desk The Canadian Press, 03 Feb, 2015 10:40 AM

CALGARY — One of two men on trial for an alleged multimillion-dollar Ponzi scheme that police say bilked thousands of investors around the world of $400 million has delivered his own closing argument.

Gary Sorenson dismissed his lawyer during the five-month trial in Calgary.

He told the jury he was filled with fear and concern when the Crown laid out its case.

But Sorenson said he has something equally formidable to fight the allegations — the truth.

Sorenson and Milowe Brost (BROHST) have pleaded not guilty to fraud and theft.

The two men were arrested in 2009 for what police have called the largest Ponzi-type scheme in Canadian history.

Brost alone faces a fifth charge of money laundering, to which he has also pleaded not guilty.

Prev Next

MORE National ARTICLES

Tory MP's bill unnecessary, could harm independence, say Parliament's watchdogs

OTTAWA — Canada's seven parliamentary watchdogs are urging a Senate committee to quash a Conservative MP's bill, calling it unnecessary and potentially harmful to their independence.

Tory MP's bill unnecessary, could harm independence, say Parliament's watchdogs

Opposition MPs reject federal plan to keep worst criminals in jail for life

OTTAWA — Opposition MPs say the government's long-promised plan to lock up some criminals and throw away the key will only make prisons more dangerous.

Opposition MPs reject federal plan to keep worst criminals in jail for life

Premier Christy Clark Says Diversified Economy Keeps Province On Balanced Budget

VICTORIA — British Columbia's diverse economy is its greatest asset, and Premier Christy Clark said that's what is helping her government to present another balanced budget next month.

Premier Christy Clark Says Diversified Economy Keeps Province On Balanced Budget

Police Credit B.C. Conservation Officer For Saving Life Of Man Whose Pal Died

POWELL RIVER, B.C. — Police say a conservation officer with extensive knowledge of the backcountry saved a man whose friend drowned in frigid lake waters near Powell River, B.C.

Police Credit B.C. Conservation Officer For Saving Life Of Man Whose Pal Died

City Bylaw Can Discriminate In Setting Property Tax Rates: B.C. Judge

VANCOUVER — A B.C. Supreme Court judge says a Vancouver Island city can discriminate when it sets two separate tax rates for forestry lands within its municipal boundaries.