Insight

Ponzi Mastermind Sentenced to 12 Years – $54 Million Payment Ordered

Ponzi Mastermind Sentenced to 12 Years – $54 Million Payment Ordered

John Pirie

John Pirie

August 26, 2021 09:56 PM

By John Pirie & Michael Nowina

March 25, 2020

David Holden was recently convicted of defrauding Canadian investors in Seaquest Corporation and Seaquest Capital Corporation of more than $54-million in a complex ponzi-scheme. In related civil proceedings our team acted to obtain significant recoveries for some of Holden’s victims. Sadly, this was not the first time that Holden had defrauded investors.

Read More

Related Articles

Safe Drinking Water Is the Law, First Nations Tell Canada in $1.1B Class Action


by Gregory Sirico

Canada's argument that it has "no legal obligation" to provide First Nations with clean drinking water has sparked a major human rights debate.

Individual drinking water in front of window

The Future of Canadian Law. Insights from Best Lawyers: Ones to Watch Honorees


by Jennifer Verta

Emerging leaders in Canada share their perspectives on the challenges and opportunities shaping the future of Canadian law

Digital eye with futuristic overlays, symbolizing legal innovation and technology

IN PARTNERSHIP

Breaking Down Criminal Conviction in Canada


by Mass Tsang

Statistics Canada’s annual breakdown of adult criminal court data provides an eye-opening review of how the country’s court system resolves its hundreds of thousands of cases annually.

Canada's Criminal Court Patterns Are Changing

Unveiling the 2025 Best Lawyers Awards Canada: Celebrating Legal Excellence


by Jennifer Verta

Presenting the 19th edition of The Best Lawyers in Canada and the 4th edition of Best Lawyers: Ones to Watch in Canada.

Digital map of Canadathis on illuminated by numerous bright lights

IN PARTNERSHIP

Understanding Your Rights: What to Do If You’re Arrested


by Richard Posner

Toronto-based criminal defense lawyer Richard Posner offers his expert opinion on actions to take during an arrest to avoid further legal complications.

Individual with hands on head is detained by police

IN PARTNERSHIP

From Allegations to Action: Navigating Legal Options for Sexual Abuse Survivors


by Wagners Law Firm

All too often, instances of sexual abuse occur within an institutional environment. Read more to find out what to do in cases of sexual and institutional abuse.

Animated woman sits with her eyes closed

IN PARTNERSHIP

How Long Can You Stay on Long-Term Disability (LTD)?


by Yegendorf Rashid Long-Term Disability Lawyers

Canadian-based firm Yegendorf Rashid break down the intricacies of long-term disability benefits and how to navigate the complex legality that comes with it.

Silhouettes of different people with disabilities

IN PARTNERSHIP

How to Protect Your Inheritance from Divorce in Ontario


by Usman Sadiq

One lawyer in Canada explains that, although division of assets does not always have to be evenly split, it should be fair, and inheritance is no exception.

Small grey house with red roof under large red umbrella on blue background

A Celebration of Excellence: The Best Lawyers in Canada 2024 Awards


by Best Lawyers

As we embark on the 18th edition of The Best Lawyers in Canada™, we are excited to highlight excellence and top legal talent across the country.

Abstract image of red and white Canada flag in triangles

Vanguards of Victory: Best Lawyers: Ones to Watch in Canada 2024


by Best Lawyers

The third edition of Best Lawyers: Ones to Watch in Canada™ has been announced, and the lawyers showcased by these awards are rising to the challenge each day as advocates for clients all across the country.

Blue and black background with small squares connected by lines

IN PARTNERSHIP

How Long Can You Stay On Long-Term Disability?


by Michael Walter

Walter Law Group's team of long-term disability lawyers explains qualifications and coverage length for LTD.

Image of wheelchair accessible sign white on blue background

Canadian Women in the Legal Profession: From Non-‘Persons’ to Chief Justices


by Sara Collin

We take an in-depth look at the challenges and optimistic future of women in the Canadian legal sector.

Canadian Women in the Legal Profession

IN PARTNERSHIP

How To Prepare a Strong Personal Injury Claim in Canada


by Best Lawyers

If you suffer injuries due to an accident or other incident, you should take several steps to prepare a solid personal injury claim in Canada.

Personal Injury Claims in Canada

There’s Hope for the Canadian Real Estate Market Post COVID-19


by Steven Tulman

Clover Mortgage offers advice and predictions on the Toronto real estate market as we move on post-pandemic.

Canadian Real Estate Market Post COVID-19

Canada “Lawyer of the Year” 2022


by Best Lawyers

Richard Vachon is honored as 2022 "Lawyer of the Year" in Montréal, Canada for Defamation and Media Law.

Canada “Lawyer of the Year” 2022

Announcing the 2022 Canada's Best Lawyers Publication


by Best Lawyers

Featuring the top legal talent in Canada.

2022 Canada's Best Lawyers Publication

Trending Articles

2025 Best Lawyers Awards Announced: Honoring Outstanding Legal Professionals Across the U.S.


by Jennifer Verta

Introducing the 31st edition of The Best Lawyers in America and the fifth edition of Best Lawyers: Ones to Watch in America.

Digital map of the United States illuminated by numerous bright lights.

Unveiling the 2025 Best Lawyers Awards Canada: Celebrating Legal Excellence


by Jennifer Verta

Presenting the 19th edition of The Best Lawyers in Canada and the 4th edition of Best Lawyers: Ones to Watch in Canada.

Digital map of Canadathis on illuminated by numerous bright lights

Discover The Best Lawyers in Spain 2025 Edition


by Jennifer Verta

Highlighting Spain’s leading legal professionals and rising talents.

Flags of Spain, representing Best Lawyers country

Unveiling the 2025 Best Lawyers Editions in Brazil, Mexico, Portugal and South Africa


by Jennifer Verta

Best Lawyers celebrates the finest in law, reaffirming its commitment to the global legal community.

Flags of Brazil, Mexico, Portugal and South Africa, representing Best Lawyers countries

Presenting the 2025 Best Lawyers Editions in Chile, Colombia, Peru and Puerto Rico


by Jennifer Verta

Celebrating top legal professionals in South America and the Caribbean.

Flags of Puerto Rico, Chile, Colombia, and Peru, representing countries featured in the Best Lawyers

Prop 36 California 2024: California’s Path to Stricter Sentencing and Criminal Justice Reform


by Jennifer Verta

Explore how Prop 36 could shape California's sentencing laws and justice reform.

Illustrated Hands Breaking Chains Against a Bright Red Background

Tampa Appeals Court ‘Sends Clear Message,” Ensuring School Tax Referendum Stays on Ballot


by Gregory Sirico

Hillsborough County's tax referendum is back on the 2024 ballot, promising $177 million for schools and empowering residents to decide the future of education.

Graduation cap in air surrounded by pencils and money

Find the Best Lawyers for Your Needs


by Jennifer Verta

Discover how Best Lawyers simplifies the attorney search process.

A focused woman with dark hair wearing a green top and beige blazer, working on a tablet in a dimly

Paramount Hit With NY Class Action Lawsuit Over Mass Layoffs


by Gregory Sirico

Paramount Global faces a class action lawsuit for allegedly violating New York's WARN Act after laying off 300+ employees without proper notice in September.

Animated man in suit being erased with Paramount logo in background

The Human Cost


by Justin Smulison

2 new EU laws aim to reshape global business by enforcing ethical supply chains, focusing on human rights and sustainability

Worker wearing hat stands in field carrying equipment

Introduction to Demand Generation for Law Firms


by Jennifer Verta

Learn the essentials of demand gen for law firms and how these strategies can drive client acquisition, retention, and long-term success.

Illustration of a hand holding a magnet, attracting icons representing individuals towards a central

Social Media for Law Firms: The Essential Beginner’s Guide to Digital Success


by Jennifer Verta

Maximize your law firm’s online impact with social media.

3D pixelated thumbs-up icon in red and orange on a blue and purple background.

ERISA Reaches Its Turning Point


by Bryan Driscoll

ERISA litigation and the laws surrounding are rapidly changing, with companies fundamentally rewriting their business practices.

Beach chair and hat in front of large magnify glass

How Client Testimonials Fuel Client Acquisition for Law Firms


by Nancy Lippincott

Learn how client testimonials boost client acquisition for law firms. Enhance credibility, engage clients and stand out in a competitive legal market.

Woman holding blurb of online reviews

Critical Period


by Armelle Royer and Maryne Gouhier

How the green-energy raw materials chase is rewriting geopolitics

Overhead shot of mineral extraction plant

Best Lawyers Expands With New Artificial Intelligence Practice Area


by Best Lawyers

Best Lawyers introduces Artificial Intelligence Law to recognize attorneys leading the way in AI-related legal issues and innovation.

AI network expanding in front of bookshelf