Couple accused in worldwide ponzi scheme in court today
A Lake of Bays couple accused of defrauding more than 40,000 people in close to 120 countries are in Bracebridge court today for a bail hearing. Nick and Diane Smirnow were arrested in December at Pearson Airport by officials who are investigating a ponzi scheme that used a website called ‘Pathway to Prosperity’ which offered investors a high annual return. It’s estimated the thousands of victims were ripped off to the tune of over $70 million. The couple are facing a slew of charges.