Crown Wants 14 Years For 2 Calgary Men Who Stole Millions In Ponzi Scheme

The Canadian Press, 29 Jun, 2015 12:42 PM

CALGARY — The Crown wants a lengthy jail term for two Calgary men convicted in a multimillion-dollar Ponzi scheme.

Gary Sorenson and Milowe Brost were found guilty of fraud and theft in February for an elaborate scheme where investors were brought in and promised unrealistic returns.

Authorities have called it the largest Ponzi scheme in Canadian history.

The court received 600 victim impact statements but only one showed up to read it in court.

Carole Knopp says she is embarrassed by what happened and will be in debt for the rest of her life.

More than 2,000 people were swindled by Sorenson and Brost.

The Crown calls both men equally to blame and wants a maximum sentence of 14 years in prison.

Prev Next

MORE National ARTICLES

CBC Fires Power And Politics Host Evan Solomon

The CBC has abruptly "ended its relationship" with high-profile news host Evan Solomon, saying it determined he had acted in ways that were "inconsistent" with its code of ethics.

CBC Fires Power And Politics Host Evan Solomon

RCMP Say Shed Fire That Injured Four Children On Manitoba Reserve Not Suspicious

NELSON HOUSE, Man. — Manitoba RCMP say a shed fire on a remote northern reserve in which four children were injured is not suspicious.

RCMP Say Shed Fire That Injured Four Children On Manitoba Reserve Not Suspicious

Failure Of 'Storm' Smartphone Dealt Major Blow To Blackberry: Jim Balsillie

Former co-chief executive Jim Balsillie says BlackBerry's reputation was dealt a major blow by the BlackBerry Storm, a rushed attempt by the Waterloo, Ont., company to fend off Apple's iPhone with its own version of a touchscreen device.

Failure Of 'Storm' Smartphone Dealt Major Blow To Blackberry: Jim Balsillie

Harper Faces Tough Talk On Climate Change And Security Threats At G7

The G7 leaders started their annual meeting Sunday during which Prime Minister Stephen Harper was expected to face discussions on a topic he has been repeatedly criticized for not doing enough about — climate change.

Harper Faces Tough Talk On Climate Change And Security Threats At G7

Scientists Make No Bones About Yukon Fossil Find, Redraw Camel's Family Tree

WHITEHORSE — Miners working the Klondike have uncovered an evolutionary treasure that one paleontologist says is as precious as gold.

Scientists Make No Bones About Yukon Fossil Find, Redraw Camel's Family Tree

Harper Sees Russian Ships In Baltic Sea While Sailing On HMCS Fredericton

GDYNIA, Poland — A Canadian warship carrying Stephen Harper in the Baltic Sea was shadowed by two Russian frigates on Wednesday, giving the prime minister a front-row seat in the naval chess game between the West and Russia.