An article today by the Hamilton Spectator shines light on the trial of standardbred horse owner Bob Waxman, who is facing charges from alleged fraud and theft in the mid-to-late 1990s
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The report states that Waxman is facing five charges of fraud and two of theft amounting to $28 million. He is accused of orchestrating a series of copper trades in 1996 and 1997 that lined his pockets at the expense of Philip Services. The total value of the missing metal has been set at $20.2 million (U.S). Waxman has pleaded has pleaded not guilty to all the charges.
Ivan Herring, a retired executive from General Motors, told the court that he had an ongoing dialogue with Waxman regarding the whereabouts of $16 million worth of GM-owned copper had gone. "He (Waxman) owed me stuff and I wanted it," the Hamilton Spectator quoted Herring as saying.
To read the article in its entirety, click here.
(With files from the Hamilton Spectator)