He's back.
Former Legal Counsel to the Legislative Assembly of Alberta Michael Ritter has been released from prison after serving 18 months of a 10 year sentence at a minimum security prison in Grande Cache, Alberta. Three years ago, Ritter pleaded guilty to stealing $10.5 million from one client (who had stolen $43 million from Merrill Lynch) in a deal to avoid extradition to the United States for helping another client revive a $270 million Ponzi scheme that victimized more than 6,500 American investors.
The 6,500 American investors may be interested in reading a recent Globe & Mail feature to learn that Ritter has returned to his lavish home in Edmonton, and according to his Facebook status has:
"finally got his Jaguar running again after not driving it for over three years!"Federal Justice Minister Rob Nicholson recently announced his intentions to introduce legislation to help combat white-collar crime.
It's hard to be mad at someone that stole money from Merrill Lynch. Even if he stole it from the first thief. After all, Merrill Lynch essentially stole that money from other people to begin with...
ReplyDeleteStealing is never good, but let's be honest; Michael Ritter would be a rank amateur in today's financial market.
ReplyDeleteI think a lot of us remember him from Youth Model Parliament.
ReplyDeleteHe was the speaker when *I* was there, in 1996... no guilt by association. ;)
ReplyDelete