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HALIFAX – Two days after being sentenced to imprisonment for conspiracy and fraud in one of the most complex cases of white-collar crime in the history of Nova Scotia , two architects of a sophisticated multi-million dollar stock market system were released on bail. ] Daniel Potter, the former CEO of the defunct Knowledge House technology company, and former lawyer Blois Colpitts have been released pending the outcome of an appeal.
The disgraced leaders were convicted in March of manipulating the stock price of the firm. Nova Scotia Court of Appeal Judge Cindy Bourgeois signed bail orders today after the two have agreed to multiple conditions, including handing in their pbadports, staying in the country and report weekly to the police.
They also each incurred an undertaking of $ 100,000, with family friends agreeing to act as sureties
. James Martin told the Court that Potter and Colpitts were not at risk of flight, and that they were not afraid of committing other offenses.
The court should now set dates for the appeal, which, according to Bourgeois, should be "In 2019".
On Wednesday, Nova Scotia Supreme Court Justice Kevin Coady sentenced Potter, 66, to five, and Colpitts, 55, to four and a half years
. Mr. Coady stated in his decision
that co-conspirators resorted to multiple manipulative techniques to support the course of action of the firm.
Although the Crown felt the fraud Coady said that he would not put a specific figure on the plan, instead calling it a "multimillion dollar large-scale fraud".
Knowledge House, the darling of Halifax's once-promised business technology, was to revolutionize e-secondary, secondary and post-secondary education systems.
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