Alleged ponzi scheme could be worth $5 billion
Posted Jan 23, 2010 8:09 am.
This article is more than 5 years old.
The ponzi scheme allegedly run by two Calgary businessmen could run as high as $5 billion.
A Florida court was told yesterday the scheme is much larger than originally thought.
Two Calgarians, Milowe Brost and Gary Sorenson are charged with collecting massive investments that allegedly paid great dividends.
It’s estimated the actual amount of money raised was between $1.2 to $5billion, and involved close to 4000 investors.
In a report released yesterday, three quarters of those who poured money into Brost’s and Sorenson’s ponzi scheme were Canadian investors.
Brost and Sorenson remain at liberty pending a resolution of their case.
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