An Alberta man convicted in one of the largest Ponzi schemes in Canadian history had his appeal denied on Wednesday.
Milowe Brost, from Calgary, was convicted in 2015 and sentenced to 12 years in prison along with co-accused Gary Sorenson.
The pair were found guilty of fraud and theft in relation to an elaborate scheme that promised investors unrealistic returns. Brost was also found guilty of money laundering.
Read more at CBC News
This article is summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.