RSS FeedTough-on-crime legislation targets big fraudsters
White-collar criminals face new sentences
Campbell Clark writes for the Globe and Mail:
The federal government will legislate two-year minimum sentences for big-money frauds of more than $1-million, seeking to assuage an outcry over a series of Ponzi schemes and rip-offs that came to light as financial markets tanked.
White-collar crime—sentencing
Defence lawyers Edward and Brian Greenspan argued that their clients should be sentenced to two years less a day of house arrest, followed by three years’ probation. They proposed the pair could serve the community by talking to university students about business ethics.
[The judge] found that Drabinsky and Gottlieb masterminded a scheme of fraudulent accounting that started in 1989 when the Livent was still private, and used those methods to keep it afloat as a publicly traded company from 1993 to 1998.
