Calgary Ponzi case rescheduled to December

Two men accused of creating a Ponzi scheme that is alleged to have defrauded investors around the world of millions of dollars have had their Calgary court appearance rescheduled to Dec. 14.

The case was put over because Gary Sorenson and Milowe Allan Brost still need to find lawyers.

"The demands are such that he is better served by having someone who has more time to devote to it over the longer course," said Donald MacLeod, who is stepping down as Sorenson's lawyer.

Sorenson and Brost are both charged with fraud and theft over $5,000.

Police allege thousands of investors in Canada, the United States and overseas were swindled between 1999 and December 2008.

Investigators say the scheme involved a company called Syndicated Gold Depository S.A. lending money to Merendon Mining Corporation Ltd.

There were no legitimate investments, police allege, and returns were paid out of distributions from other investors. Police say the men bilked 3,000 people out of at least $100 million between 1999 and 2008.

Some victims of the alleged Ponzi scheme attended court on Monday so they could lock eyes with Brost and Sorenson.

Doreen Brown said she was disappointed the two accused did not attend.

"They should have been here," she said. "How come they can just sit back, and furthermore why are they out on bail?"

Brost and Sorenson are scheduled to appear in court again Dec. 14.