Tag Archives: convicted fraudster Terry Banks
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
The story behind an alleged fraud worth millions in Nova Scotia’s lobster industry
In June of 2015, three men stepped out of a summer day thick with flies and into the Beaverdam Lake, N.S., cottage of lobster dealer Wayne Banks. It wasn’t a casual visit. They had arrived unannounced at his doorstep, claiming that in the space of about 10 days someone had ripped them off to the tune of $1.6 million. “Have a seat, you fellas,” said Banks. “I think I know why you’re here. But there ain’t nothing I can tell you.” The secret recording of that conversation, later provided to CBC News by one of the men, offers a glimpse into a large alleged fraud case, one that reveals the money and high stakes at play in Canada’s most lucrative lobster industry. Only later would local RCMP team up with the federal serious and organized crime unit to launch a joint investigation into what they called a complex criminal operation, one some feared could have broader ramifications to the industry. But on that June day two years ago, one name threaded its way through the conversation — Wayne Banks’s younger brother, convicted fraudster Terry Banks.”How many families get destroyed because of Terry f–king Banks again?” said one of the visiting men in exasperation. “I don’t understand why Terry’s still alive. I don’t.” Big Story. Click here to read it 08:06
Lobster thefts: Three facing charges in $3M international fraud and theft case – click here Charges laid after lobster theft investigation – click here RCMP concludes investigation into local and international lobster theft and fraud – RCMP click here
