Think about it. If you could walk away with more than $32 million and only have to spend 36 months of your life in a federal prison (maybe even minimum security farm), would you do it?
That’s almost a take of a million dollars a month … former investment adviser and convicted multiple fraudster Ian Thow has been alleged to have done pretty close to that
Thow pleaded guilty Monday to 20 counts of fraud, involving $8 Million bilked from trusting clients. But news reports have alleged he owed about $32 million to clients when he fled to the U.S. in 2005. He was captured in 2009.
Thow caused almost immeasurable suffering to his clients … many of them elderly, who have reportedly suffered wrecked lives, health problems and terrible anxiety over ruined retirement plans … as a result of Thow’s thievery.
Instead of investing their funds as they expected, Thow lived the high life for many years in a Victoria waterfront mansion, driving luxury vehicles and 0wning a private jet.
Thursday, Thow was sentenced to nine years in prison for his crimes. Does that seem like justice to you? Not to me. Whether his illegal take was $8 million or $32 million.
Because even with a sentence of nine years, Canada’s ludicrous ”injustice” system kicks in to make sure the convicted criminal isn’t inconvenienced anywhere near his actual sentence time.
First, Thow will receive two years credit for the one year he spent in a remand center awaiting disposition of his case. Then with time off for “good behaviour” while incarcerated, and the fact that his crime was “white collar”, not violent, he apparently could be out on full parole in another 24 months.
So that’s a total of 36 months behind bars … for a minimum $8 million take ..and reportedly maybe even four times that in actuality during his “career”.
And in B.C. they call this justice.
But wait, it’s even worse than that!
These calculations are based on the total nine year sentence provincial court Judge Jocelyn Palmer handed Thow.
Get this ..both the CROWN and the Defence counsel had jointly asked FOR LESS!!!
They had recomended a seven year total sentence … which I read could have resulted in Thow getting out on parole in just 14 months! What a farce!
As I have written here before… BC’s injustice system profits the lawyers, the courts, the judges and the criminals. The ones who really pay the price for crime … financially, emotionally, and even in terms of their health … are the victims.
And I don’t say this as some angry redneck who wants to “hang ‘em high”, but as someone who has watched and reported on our ”injustice system” for decades, and actually won a Webster Award for a five part series I did entitled “Contempt for Court”.
It has been five years since that series appeared on Global Tv … and it’s my own view that the system coddles and “rewards” criminals even more than it did then and respects the victims of crime even less now than it did then.
In B.C. crime does pay.
If you are bright, cunning, lack moral or ethical fibre and willing to commit fraud, run a scam against seniors and spend a couple of years in a federal institution, taking courses, reading, watching t.v., and working out … you could live a very rich life for quite a while before getting caught.
And if you’re really smart …find a way to hide much of your loot, so you can continue to enjoy yourself after you get out .. . after, in a relatively few months, paying your “debt” to society.
And who knows, you might even get away with it … or off on a technicality.
Harv Oberfeld
12 responses so far ↓
1 Crankypants // Mar 6, 2010 at 7:41 am
I agree with you wholeheartedly. The penalties dished out for so many crimes, both white collar and those that result in the death of someone are far too lenient. The one murdered has been given a life sentence and his or her survivors are left to live a life sentence remembering their loved one. Those that are victimized by white collar crime are left to try and put the pieces back together and in most cases that will never happen and their chances of any meaningful restitution are virtually nil.
There will always be those that will use crime as a means of making a living, but if the penalties for getting convicted were increased to make the risk not worth the reward, then maybe there would be less willing to take this path. What we have now is nothing more than a joke, but I don’t hear too many victims laughing.
(Response: As I have written before, the defence lawyers are doing their job in getting their clients off or a reduced sentence … but the Crown lawyers are quite apparently over time dulled to the suffering of the victims and too often seek easy plea deals rather than real justice. And most judges were DEFENCE counsel before eing appointed to the bench ..so they are quite accustomed to working with some pretty nasty criminals and, let’s face it, made a pretty good living from them …so I believe the tendency is to go easy. They may blame “precedents” and previous case rulings ..but I’m convinced B.C. would LOSE in any study comparing sentences handed down here to those in other provinces. Would make really interesting story. h.o.)
2 RS // Mar 6, 2010 at 3:12 pm
This isn’t just a made in BC affront to justice, it’s a national disgrace.
Ask Conrad Black.
Ask David “Rat” Radler.
(Response: Absolutely right! In their case, an international disgrace …but I’d bet Black would have got off … or just be given a few months ..suspended … or put on “mansion” arrest if he had been prosecuted in Canada. h.o)
3 shy because legal case pending // Mar 6, 2010 at 5:06 pm
Harvey said:
If you are bright, cunning, lack moral or ethical fibre and willing to commit fraud, run a scam against seniors and spend a couple of years in a federal institution, taking courses, reading, watching t.v., and working out … you could live a very rich life for quite a while before getting caught.
Bang on! This applies to another escalating form of fraud against seniors that this province’s legal and judicial establishment has carefully cultivated, and is actively “harmonizing” into other provinces as we speak. It’s a growing cancer.
I’m speaking of the laws that govern the rights of the elderly that allow seniors to be declared incompetent and to have their rights and assets stripped by anyone (anyone) who sees fit to challenge their competency, regardless of motive.
Here’s how the law in BC is set up — whomever petitions the court for guardianship first has the upper hand legally. If that happens to be someone who is bright, cunning, lack moral or ethical fibre and willing to commit fraud , well that’s no concern of the court. These fraud artists don’t even have to worry about the risk of jail. Nobody cares if a senior is defrauded of their rights, their assets, their life.
Why is this happening? Well, for one thing, adult guardianship court “petitions” aren’t handled by the courts like regular trials. No cross-examination, no jury, nada. Just quiet little courtroom hearings where the deed is done usually in a few minutes, with only the two parties present. Easy, peasy. Someone loses their rights and the assets they worked all their life for their retirement comfort. Gone.
Whether the “petitioner” asking to be given the authority over the senior’s life and assets might be doing so for ulterior motives isn’t investigated. Of course, the judge could rule against them, but that would mean they’d have to look closely at the petition/petitioner but they rarely do. And get this, the Adult Guardianship laws have been over-hauled (with some but not enough improvement) and were due to be implemented already. However, it was just announced that the new laws are not going to be implemented now – because there’s no money for that now. Yup, the party’s over. We was fooled folks.
Also, should someone try to call attention in the courts or regulatory agencies to an act of fraud being perpetrated (using our laws as the tool, no less), it’s a rare person who can afford the costs of a lawyer to fight a Supreme Court case battle. The primary tactic of lawyers is delay, delay, delay (for obvious, selfish reasons). It’s no coincidence that these bottom-feeders (fraudsters and lawyers) have trained their eagle eyes on the huge pot of gold that is the graying boomer generation.
Self-regulating professions (doctors and lawyers).– what a smokescreen that is, but somehow the public still buys this ridiculous notion that a degree confers a higher moral compass on these money-grubbers who pose as pillars of society. It’s a license to print money, by enabling the destruction of people’s lives. For these people, right now it’s boom time in BC! The elite and powerful protect each other, and while this has always been part of human societies, in BC today it’s out of control, and is ravaging our society.
4 Norm Farrell // Mar 6, 2010 at 7:42 pm
(Response: Absolutely right! In their case, an international disgrace …but I’d bet Black would have got off … or just be given a few months ..suspended … or put on “mansion” arrest if he had been prosecuted in Canada. h.o)
——
Umm… He didn’t have to get-off in Canada. Authorities in this country smiled sweetly and saw no wrongs being committed, even the obstruction of justice charge for the late night removal of documents, contrary to court order, as recorded on his office building’s security cameras, happened in Canada but was left to American prosecutors.
But the Canadian establishment did its best. They rose up with one voice and decried American persecution of their foppish hero. Macleans Magazine was specially shameful as were other of the Toronto newspapers and their society dazzled columnists. But, most of those folks could trace paycheques back to Connie and Barbara.
How many foreign convicts get media platforms to sustain their voices while incarcerated? Or, get to sustain the trust bound assets that stay out of reach of potential creditors?
(Response: Yes ,and I’ve written repearedly about Black and his still being published in the National (Post) ..available by searching under his name. h..o)
5 Henri Paul // Mar 7, 2010 at 4:19 am
MONTREAL – Ex-financial consultant Earl Jones was sentenced to 11 years behind bars, after pleading guilty in January to two counts of fraud amounting to more than $50 million
—————————————————
Sounds like Ian Thow 9 yr sentence is in line with the other fraudster Jones.
(Response: Not quite. Justice shouldn’t be measured in dollars, but in charges. Jones ghot 11 years on TWO charges… Thow nine years on 20 charges. Doesn’t seem like parity to me! h.o)
6 DGB // Mar 7, 2010 at 7:30 am
Thow dost do the crime and he’s awarded with a little down time.
This guy played it (our legal system) for what it is – he didn’t appeal extradition because he knew he’d get life down in the States. One thing that seemed to catch him off guard was the DNA sample he has to give. I bet he was planning another caper down south when he gets out, but now his genes will give him away.
7 Genuine // Mar 7, 2010 at 3:36 pm
two tiered medical system,and a two tiered just us.
(Response: And more than two tears from the rest of us. h.o)
8 Warren Standerwick // Mar 8, 2010 at 5:38 pm
Are you seriously suggesting that people who are convicted of crimes should be sentenced on the basis of allegations in newspapers? To borrow a phrase- lets try and keep it real.
(Response: Of course not. But I am suggesting that someone who pleads guilty to 20 charges involving $8 MILLION and who seriously hurt the lives of so many people deserves more than 36 months in jail, after all is said and done. And I am disgusted that the Crown agreed with the defence that a total seven year sentence would be agreeable … or only 26 months in jail, with all the credits Thow would receive. His victims will suffer much longer than he will. Surprise! Surprise! h.o0
9 Henri Paul // Mar 9, 2010 at 12:42 am
Harv said Mar 8, 2010 at 5:38 pm I am disgusted that the Crown agreed with the defence that a total seven year sentence would be agreeable …
——————————————————-
What you say is true Harv, but, the Judge did sentence Ian Thow to 9 yrs.
As for the 2 for 1 allowance, that has now been rescinded ,as of a couple of weeks ago, I believe.
(Response: the 2 for 1 WAS applied in Thow’s case ..maybe because his arrest preceded the change. Yes the judge sentenced him to nine…but I am still disgusted the CROWN …who are supposed to to be PROSECUTORS and represent the victims and justice ..aimed so low …at seven. They should have asked for TWELVE. h.o.)
10 Henri Paul // Mar 9, 2010 at 3:34 am
I just looked it up on the 2 for 1 . Your correct Harv, he got in under the wire.
11 Keith // Mar 23, 2010 at 3:21 pm
The sad truth nowadays is that those who cannot afford a lawyer and are accused of a small crime, will get sentences more severe then any of these money magicians who dupe so many seniors. I know personally of a domestic situation whereby the accused has been appointed a lawyer who did the worst job I have ever seen. Arrogant, could not talk to him, forgot to mention important issues on behalf of the client in court for what he apologized after the court case with “you should have told me that|”. But he should have known if he had read the submitted material by his client. He basically could not be bothered. Guess those type of cases just dont pay enough. And the BC libs have cut back even more on that. Only “fair”? justice in BC if you have money!
12 Marlin C // Oct 26, 2010 at 10:21 pm
Knowledge is money for the so called incompatant LAW “to know or not to know, that is the question”.
Leave a Comment
CAPTCHA Code is needed.