Four charged in Ponzi scheme back in court June 18
Four charged in relation to an alleged $60 million Ponzi scheme did not appear in person on Friday, April 16 in provincial court in Drumheller.
Murray Stark, 73 of Three Hills, Robert Fyn, 62 of Linden, Garth S. Bailey, 57 and Katherine Rodrique Bailey, 53, of Okotoks were scheduled to be in court last Friday. Local lawyer John Sparling QC acted as agent for Paul Brunnen and Don Macleod QC, counsel for the accused.
Sparling asked to reserve the elections for the accused and put their next appearance over until June 18, 2010 to allow for defense to receive considerable disclosure which include substantial electronic information.
Stark, Fyn and Garth Bailey face charges of fraud over $5,000 and conspiracy to commit fraud. The three, and Katherine Rodrique Bailey, also face charges of laundering proceeds of crime and conspiracy to launder proceeds of crime.
RCMP Calgary Commercial Crime Section launched this investigation in 2004 and believe approximately one thousand victims throughout North America invested more than $60 million US into various alleged fraudulent investment programs offered by Alberta registered company HMS Financial.