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by Mike Caswell

Gregg Mulholland, the West Vancouver man awaiting sentencing in New York for a $250-million fraud, has asked that the judge impose the most lenient jail term possible. (All figures are in U.S. dollars.) He says that he has already forfeited all of his assets, will be banned from the markets for life and will have to miss the upbringing of his two young daughters. He has also asked that the judge approve him for a transfer to Canada.

The request from Mr. Mulholland, 47, comes about eight months after he pleaded guilty to a charge of money laundering conspiracy. In doing so, he admitted that he was the secret owner of Legacy Global Markets SA, a brokerage firm that operated from Panama and Belize. According to prosecutors, the firm participated in a number of manipulations. They included that of Cynk Technology Corp., a pink sheets listing that was briefly worth $4.5-billion in 2014.

With his sentencing approaching, Mr. Mulholland has portrayed himself in the best light possible. In a sentencing memorandum filed on Jan. 10, 2017, he says that he made a "horrific decision" that led him into criminal activity. In 2010, he had a choice between a job at a toy company and a job at a shady offshore brokerage. He chose the brokerage, a decision that he now claims will cause him no end of guilt and remorse.

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