Crown wants seven years for $1.5M theft
WINNIPEG The Crown is seeking a seven-year prison sentence for a former Winnipeg insurance broker who stole more than $1.5 million from several former clients.
Gary Palmer, 64, pleaded guilty earlier this year to 15 counts of fraud for crimes over an eight-year period. He appeared in court Friday for sentencing.
Palmer was arrested in October 2006 following a lengthy investigation. He persuaded numerous clients to make withdrawals from their investments on the premise he would transfer the money into higher-performing funds. He then took the money for his own personal use, including vacations, car payments and family expenses, court was told.
“He used the victims’ money as his own personal piggy bank,” Crown attorney Steve Johnston said Friday in arguing for lengthy period of custody.
Palmer’s victims over the years ranged from wealthy professionals to single parents. The Crown said he was making a legitimate six-figure income but got greedy and “wanted more.”