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.
Deborah McCoy – Is an investigative journalist and has over 17 years of investigation experience in both the private and public business sectors. Since joining CFN, Ms. McCoy has become a true advocate for victims of fraud and increasing the public’s awareness in fraud prevention.