Former Concrete Equities exec pleads guilty in $20M-plus fraud

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A former Concrete Equities executive charged with fraud and theft after bilking 1,200 investors out of more than $20 million has pleaded guilty to his role in the scam but will not likely spend any time behind bars. Varun Aurora, 33, pleaded guilty to one charge of fraud over $5,000 on Friday afternoon while the other charges were dropped.

Traumatized victims in the courtroom

The Calgary courtroom was packed with dozens of Aurora’s victims, some of whom at times throughout the hearing could be heard crying. Many of his victims reported having to work more years before being able to retire. Some said they felt traumatized and some felt suicidal.

Read the full article CBC News.