Friday, June 11, 2010
Bloomberg News, National Post,
Bloomberg News, National Post,
U.S. accuses Canadians of $300M scheme
The U.S. Securities and Exchange Commission is suing two Canadian men, accusing them of running a $300-million Ponzi scheme that promised returns of as much as 36% on investments in gold-mining companies.
Milowe Brost, 56, and Gary Sorenson, 66, diverted the savings of more than 3,000 investors through shell companies from at least 1999 to 2008, using millions of dollars to buy homes, ranches and a South American resort, the SEC said yesterday in a federal court filing
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Posted by Tracey on 06/11/10 at 03:06 PM •
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