Men found guilty in $400 million financial scam

With his early Friday conviction on a series of charges, a court heard evidence that he was the mastermind behind hundreds of offshore companies that, over the course of nearly a decade, allowed him to stash millions of dollars in Swiss bank accounts.

The Tiverton, British Columbia, native, along with five co-conspirators, were all found guilty by a jury of conspiracy to defraud the federal government and selling securities without the proper licensing.

The trial of businessman and former investment adviser Evan Say was heard in federal court in Vancouver for two weeks in August, and closely followed by many Canadians who are eager to see others face similar allegations. Say’s defense team argued that the prosecution had failed to prove the charges.

Say, who faces a maximum sentence of 20 years in prison, was already facing fraud charges that were later dropped.

Say’s problems were first uncovered when his brother-in-law went to the B.C. Securities Commission with allegations that he had been defrauded. Prosecutors then launched a criminal investigation in 2015.

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