Nova Scotia financial manager to be sentenced in $1-million fraud case
Posted Jan 19, 2017 03:54:46 PM.
This article is more than 5 years old.
HALIFAX – A Nova Scotia man who bilked investors out of more than $1 million through a questionable investment scheme in Panama is expected to be sentenced later this year.
Quintin Sponagle of Upper Vaughan, N.S., pleaded guilty to a charge of fraud over $5,000 last month, relating to his work with Jabez Financial Services Inc. of Windsor, N.S.
Police alleged Sponagle defrauded about 180 investors of more than $4 million, but Sponagle later admitted he was responsible for $1.1 million worth of fraudulent activity.
He was originally charged with three counts of fraud over $5,000 and one of theft over $5,000–and he was scheduled to go on trial in Halifax provincial court this month, but his guilty plea on Dec. 22 eliminated the need for a trial.
Sponagle was scheduled to be sentenced Thursday, but provincial court Judge Anne Derrick granted an adjournment to allow the accused to consult with a lawyer–something he chose not to do early in the proceedings.
As well, Derrick says more time is needed to pull together victim impact statements.