This article was last updated on April 16, 2022
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On Tuesday, Ontario Court of Appeal discarded the plea of Garth Drabinsky and Myron Gottlieb and officially charged them for carrying out fraudulent activities in 2009 and misquoting the theatre company’s financial statements.
Nonetheless, the court of law abridged their prison sentences declaring them to be too strict. Drabinsky was initially sentenced to seven years in prison, which is now reduced to five years whereas Gottlieb initially received a six-year sentence, which has been slashed to four years.
Moreover, the court said the trial judge, Justice Mary Lou Benotto of the Ontario Superior Court failed to consider the fact there was no evidence brought forward at the trial about the sum of money that was essentially lost as an outcome of the fraud at Livent.
The court stated: “While financial loss is not an essential element of the crime of fraud, it is a significant consideration on sentence.”
It added: “We see no reversible error and would dismiss the conviction appeals.”
Back in 1990s, Livent turned into North America’s leading live theatre company. It produces hits for example Phantom of the Opera and Ragtime. The business buckled down in 1998 after new holders discovered they had found evidence of accounting immodesty.
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