Investment scammer cries in St. John's court
Last Updated: Tuesday, June 15, 2010 | 12:08 PM ET
CBC News
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Sterling Norman appeared in a St. John's court Tuesday. (CBC)A St. John's man, convicted of defrauding investors out of $500,000, broke down crying in court when he learned that he will be going directly to jail before he is sentenced.
Sterling Wilson Norman, 53, appeared in provincial court in St. John's Tuesday morning for a sentencing hearing related to 10 charges of fraud over $5,000.
Judge Gloria Harding said while Norman will be sentenced on June 24, he would be going to jail on Tuesday.
Both Crown lawyer Nick Westera and defence lawyer Erin Breen recommended Norman be sentenced to two years at a federal prison.
Norman was charged in January 2009 with 53 counts of fraud involving his company, Newfoundland Mortgage Brokers Limited.
Norman was living in Alberta at the time the charges were laid. Most of the charges against Norman were dropped when he pleaded guilty in January 2010.
Documents filed with the court in 2009 show Norman, the owner of the company, was operating a Ponzi scheme, according to the RNC.
Civil suits filed in Newfoundland and Labrador Supreme Court alleged that clients loaned money to Norman for guaranteed returns of up to 48 per cent in some cases.
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