Developer who swindled property investors to be sentenced in November
Vimal Iyer convicted of 33 charges in 'large-scale fraud', after 11-month jury trial
A convicted fraudster who bilked property investors out of more than $2 million has been released on bail, following a marathon Edmonton court case that kept jurors in their seats for 11 months.
Vimal Iyer was released Tuesday on $75,000 cash bail. He was convicted on Aug. 10 of 33 counts of fraud after a trial that started last September.
The case has been described as likely the longest jury trial in Alberta history.
Iyer's scam involved promoting and selling interests in three land developments northeast of Edmonton through his company, Trident Properties. Crown prosecutor Damian Rogers described the case a "large-scale fraud" and said he would will seek a "significant" prison sentence.
Iyer was free on bail throughout the trial but was remanded into custody immediately following his convictions. He is now free on bail again until the sentencing hearing, scheduled for Nov. 9 and 10.
Twelve jurors and two alternates were selected to hear the trial last year, but three of those people left the proceeding as it ran through 11 months in court.
After the guilty verdicts were delivered, Court of Queen's Bench Justice Andrea Moen commended the jurors several times on their dedication to the months-long trial, Rogers said.