Man convicted in multi-million dollar Ponzi scheme to face sentencing hearing next month

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Man convicted in multi-million dollar Ponzi scheme to face sentencing hearing next month
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Convicted fraudster Arnold Breitkreutz will face a sentencing hearing next month, it was determined Friday.

Crown and defence lawyers appeared briefly in Calgary Court of Queen’s Bench to schedule a half-day hearing for sentencing submissions on Aug. 17.

“Through the judicial scheduler we’ve arranged Aug. 17 … for one half day,” Holtby said, speaking on behalf of himself and defence counsel Cale Ellis-Toddington. Wilson ordered that custodial officials bring Breitkreutz to court on that day to face his sentencing hearing.Article content Feasby found Breitkreutz intentionally deceived investors into believing they were putting money into safe investments secured by first mortgages when in fact he diverted the cash to risky and ultimately failed deals.The judge noted the charges against Breitkreutz, who took in funds through his Base Finance Ltd., were narrowed down to the time span of May 1, 2014, to Sept. 30, 2015, but his criminal behaviour occurred over a longer period.

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