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SEC target Georgiou takes case to U.S. Supreme Court

2015-07-22 11:13 ET - Street Wire

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by Mike Caswell

George Georgiou, the former Toronto broker serving a 25-year sentence for fraud, has asked the Supreme Court of the United States to hear an appeal of his case. He has not yet stated his grounds of appeal, but he previously complained that a key witness suffered from undisclosed drug addiction and mental health issues. The witness, Kevin Waltzer, was the centrepiece of the case against Mr. Georgiou, testifying he helped him manipulate a stock to $6, among other things. (All figures are in U.S. dollars.)

The appeal comes just months after Mr. Georgiou failed to persuade the U.S. Court of Appeals that Mr. Waltzer's testimony was unreliable. He said that it was tainted by the fact that Mr. Waltzer had been treated for ADHD, bipolar disorder and panic attack disorder. Exacerbating those problems was the fact that he was using cocaine, Mr. Georgiou's lawyers claimed. They ultimately did not succeed, as the appeal judges found no substantial problems with the testimony.

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