Ponzi-scheme suspect convicted of trying to cash $34,000 forged cheque

Calgary businessman Milowe Brost in Honduras.



CALGARY -- Calling him an "untruthful man," a Calgary judge on Friday convicted a suspect in a massive Ponzi scheme of trying to pass a forged $34,000 cheque.

Provincial court Judge John Bascom dismissed Millowe Brost's claim he thought the document was legitimate when he attempted to cash it at a northeast Money Mart outlet last Nov. 24

"He presented himself as an overly confident individual who believed he could control the court process and easily convince all those present as to his voracity," Bascom said in a written ruling.

"Mr. Brost's demeanour was that of an untruthful man," the judge said.

Brost claimed the cheque, made out to him, arrived in the mail and was sent to him by an unnamed friend of a man in London, England, he claimed he was doing business with, retired U.S. Gen. Davidson Saul Norman.

Brost said the cheque came in a plain brown envelope and he never presented Norman to back up his claim.

Because Brost already spent 5 1/2 months on remand, Bascom sentenced him to time already served and a nominal one-day term.

The Calgary man still faces charges in connection with an international Ponzi scheme in which investors lost as much as $400 million.

While he has been released on bail in connection with that investigation, Brost has been ordered detained on unrelated charges involving fraud and conspiracy to commit fraud allegations against the Canada Revenue Agency.

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