Accused in worldwide Ponzi scheme seeking bail today

The man at the centre of worldwide Ponzi scheme charges is scheduled for a bail hearing today in Bracebridge. Baysville resident Nick Smirnow was charged with 10 counts of fraud and conspiracy in the US because of an online Ponzi scheme that stole $70-million from 40,000 investors across the globe. He and his wife Dianna Smirnow were arrested at Pearson Airport in December. Dianna Smirnow was given a six day sentence in February after she’d spent 60 days in custody since her arrest. She was charged after police came to believe she’d defrauded the Ministry of Communications and Social Services of a substantial amount of money over a period of one year. She also has to pay $16,421 in restitution.