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Thread: Former OHL club owner ready to take his ‘lumps’ for Ponzi scheme
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[quote=MARRIE,463249]Wise agreed to an interview under the condition that publication be held until his plane landed in San Francisco from Toronto and he was taken into the custody of Federal Bureau of Investigation agents. He is scheduled to appear in court Tuesday morning. “I’m prepared to take my lumps,” he told the Star as he sat in the office of his Toronto lawyer, Daniel Brown, 11 days ago. “If I didn’t feel badly, I wouldn’t be doing what I’m doing. I’ve helped cause a lot of pain. Regardless of whether it was my intention or not, the result has been horrendous, horrific.” Wise — facing up to 27 years in prison — hopes his guilty plea and cooperation will help investors recover losses, estimated at $75 million. Some are suing other financial institutions for providing banking services to Millennium Bank, the ill-fated enterprise Wise launched in St. Vincent in the Grenadines in 1999. Wise says several banks recognized irregularities but did nothing. “The banks were absolutely complicit,” says Wise, who is a lawyer currently under suspension by Ontario’s law society. Most of the deceived, however, save their anger for Wise. For a measure, just punch Wise’s name into a search engine. (Sample: “Let him take a good look at himself and see what a rotten low-life coward he is for robbing the elderly, poor.”) [/quote]
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