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by Mike Caswell

The Supreme Court of the United States has turned down the appeal of George Georgiou, the former Toronto broker serving 25 years in jail for fraud. Mr. Georgiou, 46, had complained that a key witness in his case suffered from drug addiction and mental health issues. He said that prosecutors failed to properly disclose those problems during his trial.

As is customary, the Supreme Court did not provide any reason for rejecting Mr. Georgiou's appeal. It simply included his case in a list with dozens of matters that it declined to hear. The effect of the ruling is that Mr. Georgiou's sentence and conviction will stand.

At Mr. Georgiou's trial prosecutors claimed that he ran an international stock fraud ring from 2004 to 2008 that caused $55.8-million in investor losses. (All figures are in U.S. dollars.) They said that he manipulated four pink sheets listings, tried to bribe brokers and caused the demise of a Bahamian brokerage. A Pennsylvania jury convicted Mr. Georgiou in February, 2010, after a 13-day trial.

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