Article author:
The Canadian Press
Calgary — King Calgary Men Beat Bill I am asking for Client out of millions in Ponzi scheme sentenced to 10 to 12 years in prison.
Arnold Breitkreutz said he was found guilty on June 29. I got the verdict. This was a scam that the King described as a multi-million dollar scheme that investors believed put money into a secure first mortgage.
The court ruled that funds from his company, Base Financial, would instead be loaned to oil and gas promoters to secure oil and gas leases and equipment for risky oil operations in Texas.
Crown Attorney Shelley Smith said Breitkreutz was in a credible position and defrauded numerous people of up to $21 million in a 17-month period beginning in May 2014. Says.
Also wants a crown. Breitkreutz to pay his $3.1 million in damages.
The court received statements of his 29 victim impacts.
This Canadian Press report was first published on August 17, 2022.
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