The only thing necessary for the triumph of evil is for good men to do nothing -- Edmund Burke
Wednesday, September 16, 2009
``The RCMP took action in the case this week. On Monday, the RCMP charged Milowe Allen Brost, 55, of Chestermere, and Gary Allen Sorenson, 66, of Calgary with fraud. RCMP allege the pair have been involved in a nine-year scheme that defrauded upwards of 3,000 investors -- primarily from Canada and the U. S.--of hundreds of millions of dollars.``
Justice for white collar criminals seems to be a slap on the wrist and an admonishment to sin no more . Meanwhile their victims are devastated.
White Collar Crime : A Good Country for Crooks..we`ll soon see if the Opposition Parties side with the crooks ...or the victims
So far crime pays...little chance of getting caught or convicted and a slap on the wrist if there is a conviction. If someone loses $10,000 or $500,000 of their life savings- that`s after tax money... so the loss is even greater to the individuals.Seniors don`t have a hope in hell of recouping any losses.There are no grand juries, effective National Securities Regultor or resources. To add insult to injury, a lot of the top competent dedicated investigators retired recently and you can`t create an effective fraud investigator overnight.If you haven`t been affected directly , there`s a good chance at some point you will. The con artists rely on a sucker born every minute and then separating the fool from their money. They have no conscience so they don`t operate under the same rules honest people do.
So while this legislation will be welcome , it`ll be even more welcome if it is passed unanimously and the resources are also provided so the dedicated investigators won`t be spinning their wheels. If the politicians need assistance on effective methods of dealing with white collar crime, there are a lot of retired investigators that would gladly enlighten them...again.Justice delayed is justice denied
“Canadians lose faith in the criminal justice system when they feel that the punishment does not fit the crime. Our government has made the rights of victims and the protection of society our priority in addressing such concerns,” said Minister Nicholson. “We heard the call from victims of white-collar crime and we are taking action. The legislation we plan to introduce will send the message that committing fraud will have serious consequences.”
``In a 2004 study, the Ways and Means Committee of the U.S. House of Representatives reported that, in 2003 alone, almost 10 million Americans had become victims of identity theft. The crime cost consumers about $5 billion out-of-pocket and costs American business around $50 billion``
http://www.parl.gc.ca/39/1/parlbus/commbus/senate/com-e/bank-e/press-e/08dec06-e.htmSENATE BANKING COMMITTEE DISTURBED BY TESTIMONY ON CRIMINAL ORGANIZATIONS
``Ottawa, December 8, 2006 - Yesterday, as part of its examination of Bill C-25, which would make changes to Canada’s anti-money laundering and anti-terrorist financing regime, the Standing Senate Committee on Banking, Trade and Commerce heard from the Royal Canadian Mounted Police (RCMP), among other witnesses.
During the public hearing, the Committee learned that while the RCMP is aware of almost 800 criminal organizations in Canada, as well as quite a number of organizations that affect our national security, they are limited in the number they can investigate due to available resources.
“What we heard today is, frankly, quite disturbing,” says Committee Chair Senator Jerry Grafstein, Q.C. “At present,
due to its resource constraints, the RCMP is only able to investigate less than 19 percent of these criminal organizations after conducting their threat analysis. That’s 150 organizations, and they can only go after these organizations one at a time based on the threat they pose and the impact they can have. We must ensure that Canada is not a haven for illicit activities."
Deputy Chair Senator W. David Angus, Q.C., shares the concern. “To learn of this ratio today was definitely eye-opening. This Committee has, for at least the last three and a half years, consistently expressed concern about white-collar crimes and the extent to which law enforcement – the RCMP, in particular – require more resources and personnel with the right skill set to ensure that wrongdoing is investigated and prosecuted. Investigation and prosecution are important within the context of Bill C-25, and we must constantly ensure that wrongdoing does not undermine our national economy or the integrity of our financial markets.”
The Committee’s consideration of Bill C-25 continues and, during future studies, the Committee will continue to explore issues related to investigation and prosecution of white-collar crime, as well as the resources and personnel needed to ensure action on both.``
The sentence upholds a Canadian tradition where white collar criminals are treated with kid gloves, even actually forgiven or cheered on