14:21:53 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Diversified Royalty Corp
Symbol DIV
Shares Issued 113,751,248
Close 2016-08-18 C$ 2.28
Market Cap C$ 259,352,845
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Diversified Royalty ex Bennett appeals U.S. judgment

2016-08-19 10:30 ET - Street Wire

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by Mike Caswell

John Bennett, the West Vancouver man jailed in the United States for paying kickbacks to obtain federal government work, has appealed his sentence and conviction. He filed a notice on Tuesday, Aug. 16, with the Court of Appeals for the Third Circuit. He has not yet stated his reasons for appealing, but he previously complained that prosecutors had not proven any fraud on his part. He called the verdict "fundamentally unfair."

Mr. Bennett, 80, was convicted following a three-week jury trial in March, 2016. During the trial, prosecutors claimed that he was part of a scheme to pay kickbacks to the managers of a $250-million soil cleanup project in New Jersey. (All figures are in U.S. dollars.) Between 2001 and 2004 he and others arranged for cash payments, a box suite at a Buffalo Sabres game and a 10-day Mediterranean cruise for project managers. In return, Mr. Bennett's then-company, Bennett Environmental Inc., received preferred access to the bidding process.

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