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Home Canadian Press Suspect in Ponzi scheme makes own closing argument; says he has the...

Suspect in Ponzi scheme makes own closing argument; says he has the truth


CALGARY — One of two men on trial for an alleged multimillion-dollar Ponzi scheme that police say bilked thousands of investors around the world of $400 million has delivered his own closing argument.

Gary Sorenson dismissed his lawyer during the five-month trial in Calgary.

He told the jury he was filled with fear and concern when the Crown laid out its case.

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But Sorenson said he has something equally formidable to fight the allegations — the truth.

Sorenson and Milowe Brost (BROHST) have pleaded not guilty to fraud and theft.

The two men were arrested in 2009 for what police have called the largest Ponzi-type scheme in Canadian history.

Brost alone faces a fifth charge of money laundering, to which he has also pleaded not guilty.

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