Lawyers say 2 men convicted in multimillion dollar Ponzi scheme may die in jail


The Canadian Press

CALGARY: The lawyer of one of two men convicted in one of the largest Ponzi schemes in Canadian history says his client could end up dying in jail.

Shamsher Kothari (SHAM’-sheer ko-THAR’-ee), who is representing Milowe Brost, says his client is already in ill health.

He says even if the sentence is less than the 14 years the Crown is asking for there is a “strong possibility” he will die in prison.

Both Kothari and the lawyer for Gary Sorenson are asking the court to give their clients a sentence in the eight to 10 year range.

The two men were found guilty of fraud and theft in February for an elaborate scheme in which investors were promised unrealistic returns.

Brost was also found guilty of money laundering.

Nearly 2,000 people were defrauded of between $100 million and $400 million in the Ponzi scheme.


© 2015 The Canadian Press