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
California prosecutors have requested a four-year sentence for Colin Heatherington, the Vancouver Island man who pleaded guilty to charges arising from the $215-million Absolute Capital Management Holdings Ltd. fraud. (All figures are in U.S. dollars.) Mr. Heatherington realized millions of dollars in proceeds from the scheme, which he spent on travel, a $7.4-million house and the joint purchase of a yacht with his co-accused, which the men named "No Remorse," prosecutors say. His fraud was "complex, well-organized, and wreaked havoc on the Absolute Funds," according to prosecutors.
The proposed four-year term is set out in a sentencing document that prosecutors filed on June 13, 2024, in federal court in Los Angeles. In addition to four years in prison, prosecutors are asking that the judge impose a $215-million restitution order and that he serve five years of supervised release. The sentence, should the judge impose it, would come without a trial, as Mr. Heatherington previously pleaded guilty.
The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
© 2025 Canjex Publishing Ltd. All rights reserved.