Tzvi erez ponzi scheme

Erez, son of a well-known developer and one-time classical concert pianist, is accused of running a Ponzi scheme through his printing business, E Graphix, which is now bankrupt. Erez is alleged to have used money from new investors to pay returns to his original investors, concocting forgeries to present his business as profitable.

The civil court ultimately found Erez had no assets and he was declared bankrupt in October The Crown decided to drop the criminal charges last Sept.

Erez, who is also a gifted classical pianist, had faced allegations of fraud for writing bad cheques to several Ontario casinos owned by CHC.

Brzezinski said he was given two main reasons by assistant Crown attorney Donna Gillespie: Tencer, an experienced businessman, failed to perform his due diligence and should have avoided what was clearly a risky investment. As well, the courts were tied up with more serious cases involving violent crimes and had insufficient resources to pursue a complex fraud case.

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A small-time printer and classical pianist who ochestrated a Ponzi scheme that bilked 12 investors out of $ million was sentenced to.

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