A Vancouver, B.C., judge sentenced a city real estate developer, Michael J. Knight, to one year in prison for allegedly bilking investors in a condominium scam and breaking real estate and securities laws. Knight took in millions, at $100,000 per investor, for the 2006 development of green-technology condos, but only one-third of the project was built, and investors lost all or part of their money during the 2008 recession, according to the judge. Knight, who was banned from trading in securities or providing real estate services prior to seeking investments in the condo project, tried unsuccessfully to convince the court that his investors were fellow developers and that the condos were not securities.
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.