National

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

Rocky Mountaineer Train Company To Refurbish Fleet Of 16 Domed Rail Cars

VANCOUVER — Rocky Mountaineer, the Vancouver-based train company known for its sightseeing trips through the Pacific Northwest and Canadian Rockies, says it will refurbish its most luxurious class of rail cars, its GoldLeaf fleet.

Rocky Mountaineer Train Company To Refurbish Fleet Of 16 Domed Rail Cars

Reputation Of Dalhousie University Dentistry Student Should Be Cleared: Lawyer

HALIFAX — A Dalhousie University dentistry student who helped expose a Facebook group where misogynistic comments were posted about female classmates should have his reputation cleared, his lawyer said Tuesday.

Reputation Of Dalhousie University Dentistry Student Should Be Cleared: Lawyer

Justin Trudeau Blasts Harper's Economic Management, Says Liberals More Fiscally Prudent

LONDON, Ont. — Justin Trudeau is casting his refusal to be pinned down on economic policy as a sign he's more prudent and fiscally responsible — and even more prime ministerial — than Stephen Harper, whom he accuses of making it up on the fly.

Justin Trudeau Blasts Harper's Economic Management, Says Liberals More Fiscally Prudent

Kathleen Wynne Proposes National Infrastructure Partnership: 'We All Know The Reality'

OTTAWA — Ontario Premier Kathleen Wynne has proposed a sweeping, multi-billion-dollar national infrastructure partnership between the provinces and the federal government, despite growing concerns about the impact of falling oil prices on Ottawa's bottom line.

Kathleen Wynne Proposes National Infrastructure Partnership: 'We All Know The Reality'

Premier Christy Clark Demands More Details On Kinder Morgan's Safety Plans For Pipeline Expansion

VANCOUVER — British Columbia Premier Christy Clark is demanding Kinder Morgan disclose more details about its safety plans before the province approves the company's $5.4-billion pipeline expansion project.

Premier Christy Clark Demands More Details On Kinder Morgan's Safety Plans For Pipeline Expansion

B.C. Privacy Watchdog To Look Over District Software To Ensure Legal Compliance

VICTORIA — British Columbia's privacy watchdog is probing an embattled mayor's allegation that spyware is monitoring his office computer and others in the District of Saanich.