Crown is seeking prison time for a notorious Vancouver fraudster who duped hundreds of investors out of millions in a mega Ponzi scheme.
Sentencing began Tuesday morning in Vancouver provincial court. Prosecutors are looking for a prison term of seven to eight years for former public notary Rashida Samji.
Earlier this year, she was convicted on all 28 counts of theft and fraud involving 200 investors from 2003-2012.
Victims thought they were investing in the expansion of a B.C. winery in South America and South Africa.
She promised a rate of return of 12 per cent.
Crown says $43 million were discovered in Samji’s bank account – out of which 92 per cent, or $39.5 million, were returned to inventors through the Ponzi scheme.
The rest was used to further the personal and business interests of Samji.
After the scheme fell apart, Samji was slapped with a $33 million fine from the B.C. Securities Commission, the largest in its history.
She has since declared bankruptcy.