This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Mike Caswell
The U.S. bribery case against Calgary's Caroline Winsor and former Canadian broker Rick Walchuk took an unexpected turn Wednesday, as the judge revealed that one of the witnesses is Kevin Waltzer, a federal inmate serving an 11-year sentence for insurance fraud. Mr. Waltzer pleaded guilty to criminal fraud charges in 2009 after prosecutors claimed that he and others fraudulently made $40-million by making bogus claims in class-action lawsuits. (All figures are in U.S. dollars.) He has been co-operating with the government since 2007.
While it is not clear what Mr. Waltzer will testify about, he played a key role in another criminal fraud case, that of Toronto's George Georgiou. In that trial, Mr. Waltzer testified that he had helped Mr. Georgiou in a market manipulation scheme that spanned several years. Among other things, he followed detailed instructions that Mr. Georgiou provided as they boosted a stock to $4.70. The jury ultimately convicted Mr. Georgiou, and he received 25 years in jail.
The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
© 2024 Canjex Publishing Ltd. All rights reserved.
All these scammers look like they were cut from a cookie cutter mold. Slime!
20 years is about right for Walchuk. Same for his partner.