Accused Ponzi Schemer Avoids Prosecution

According to CBC, the Crown had not fulfilled its requirement under the country's Charter of Rights and Freedoms to try Erez in a reasonable amount of time. The original charges against Erez were levied more than 16 months ago.

A 295-page report was filed in Ontario Superior Court by receiver Jerry Henechowicz, who was appointed to vet investor claims, as well as locate and seize assets as part of the civil bankruptcy case against Erez's companies, according to CBC. The evidence appeared to be damning; the report said Erez received tens of millions of dollars in loans for E Graphix via documents that turned out to be elaborate forgeries.