R. v. Colpitts

R. v. Colpitts

For large-scale, multi‑victim market‑manipulation frauds in Nova Scotia the appropriate sentencing range is three to six years; applying aggravating and mitigating factors the Court sentenced Potter to five years concurrent on each conviction and Colpitts to four and a half years concurrent on each conviction; conspiracy and market‑manipulation offences arose from one continuous operation and therefore sentences run concurrently; restitution was declined because losses were not readily ascertainable and multiple participants precluded proportionate orders; DNA orders were refused as unnecessary for deterrence and intrusive given low reoffence risk.

Citation
2018 NSSC 180
Parties
Crown: Her Majesty the Queen; Accused: Robert Blois Colpitts; Accused: Daniel Frederick Potter
Court
Supreme Court of Nova Scotia
Jurisdiction
Canada
Judgment Date
25 July 2018
Procedural Posture
Criminal Market Manipulation/fraud / Sentencing Decision
Outcome
Convicted; custodial sentences imposed on counts 1 and 2; counts 3, 4 and 6 conditionally stayed; restitution denied; DNA orders refused; victim surcharge imposed.
Legal Topics
Fraud, Market Manipulation, Conspiracy, Sentencing, Restitution, DNA Order, Aggravating and Mitigating Factors
Source Language
English
Criminal Law Securities Law Corporate Law Fraud Market Manipulation Conspiracy Sentencing Restitution +2 more

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Parties

Her Majesty the Queen

Crown

Robert Blois Colpitts

Accused

Daniel Frederick Potter

Accused

Procedural Posture

Criminal Market Manipulation/fraud / Sentencing Decision

Legal Issues

  1. 1 Appropriate sentencing range for large-scale, premeditated market-manipulation fraud
  2. 2 Whether sentences on conspiracy and market-manipulation counts should be concurrent or consecutive
  3. 3 Whether restitution orders are available where loss is not readily ascertainable in market-manipulation context

Ratio Decidendi

For large-scale, multi‑victim market‑manipulation frauds in Nova Scotia the appropriate sentencing range is three to six years; applying aggravating and mitigating factors the Court sentenced Potter to five years concurrent on each conviction and Colpitts to four and a half years concurrent on each conviction; conspiracy and market‑manipulation offences arose from one continuous operation and therefore sentences run concurrently; restitution was declined because losses were not readily ascertainable and multiple participants precluded proportionate orders; DNA orders were refused as unnecessary for deterrence and intrusive given low reoffence risk.

Court Disposition

Convicted; custodial sentences imposed on counts 1 and 2; counts 3, 4 and 6 conditionally stayed; restitution denied; DNA orders refused; victim surcharge imposed.

Orders

  • Robert Blois Colpitts sentenced to 4.5 years imprisonment on each of counts 1 and 2, sentences to be served concurrently
  • Daniel Frederick Potter sentenced to 5 years imprisonment on each of counts 1 and 2, sentences to be served concurrently