Lobster dealer sentenced to 5 years in prison for large fraud

Terry Banks, a Brooklyn, N.S., man with a prior record for large-scale fraud, was sentenced Wednesday by Nova Scotia Supreme Court Justice Pierre Muise, in a case that reverberated in the lucrative lobster industry when charges were first laid in 2017. Crown prosecutor Rick Miller said outside the Halifax courtroom that lobster is a top Nova Scotia export and the industry deals in multimillion dollar transactions, but much of it still relies on trust, honesty and handshake deals to do business. “When you allow someone like Terry Banks to get into this industry and take advantage of that, then there’s a real detriment, because people go out of business, people lose their property, people lose their homes, their boats and everything,” he said. more, >>CLICK TO READ<< 16:34

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.