Why We Just Sold Half of Our Stocks

We've already sold all or part of 52 different stocks this year - more than any other period in our firms' history. That's because there are five cracks forming below this market that threaten us with a widespread collapse. We could see the market tumble by 50% and unemployment will triple.

Former Canadian fashion mogul Peter Nygard sentenced to 11 years for sexual assault

MARI YAMAGUCHI
September 09, 2024

TORONTO (AP) -- Former Canadian fashion mogul Peter Nygard was sentenced Monday in a Toronto courtroom to 11 years in prison for sexually assaulting four women. The judge called the 83-year-old a "sexual predator."

Justice Robert Goldstein said Nygard showed no empathy for his victims, who were all attacked in his company's offices. The judge said one of several aggravating factors in the case was the fact that one of the victims was just 16 years old at the time.

Nygard was found guilty of four counts of sexual assault in November but acquitted of a fifth count as well as one count of forcible confinement. He faces separate sexual assault and sex trafficking charges in Montreal, Winnipeg and the U.S.

Nygard has denied all allegations against him.

Nygard, who once led a women's fashion empire, arrived at the courthouse in a wheelchair, and did not address the court when given the opportunity. His time behind bars will come to a little less than seven years after accounting for time served. He will be eligible to apply for parole in two years.

The charges against Nygard stemmed from allegations dating back to the 1980s until the mid-2000s.

During his trial, five women -- whose identities are protected by a publication ban -- testified they were invited to Nygard's Toronto business headquarters under pretexts ranging from tours to job interviews. All the encounters ended in a top-floor bedroom suite where four of the women were sexually assaulted.

Multiple women told the jury similar stories of meeting Nygard on a plane, at an airport tarmac or at a nightclub and then receiving invitations to come to his headquarters. All five women said their meetings or interactions with Nygard ended with sexual activity that they did not consent to.

Nygard's lawyer had argued for a six-year sentence, citing her client's age and poor health, while the Crown sought a sentence of 15 years.

The judge dismissed the argument for a shorter sentence, saying that Nygard has been receiving special treatment in custody due to his various health issues and that his advanced age is not reason enough to limit the sentence.

Goldstein also suggested Nygard had been exaggerating his health issues in his submissions to the court.

Nygard's lawyer previously argued in court that a lengthy sentence would be "crushing" for her client, who has Type 2 diabetes and deteriorating vision, among other health issues.

Goldstein called Nygard "a Canadian success story gone very wrong."

Nygard founded a fashion company in Winnipeg, Manitoba, in 1967 that ultimately became Nygard International. His company produced women's clothing under several brand names and had corporate facilities in Canada and the U.S. His stores throughout Winnipeg were once draped with his photos.

Nygard stepped down as chairman of the company after the FBI and police raided his offices in New York City in February 2020. The company has since filed for bankruptcy and entered into receivership.

He was first arrested in Winnipeg in 2020 under the Extradition Act after he was charged with nine counts in New York, including sex trafficking and racketeering charges.

In May, Manitoba's highest court dismissed Nygard's application for a judicial review of his extradition order, finding there was no reason to interfere with the order issued by then-justice minister David Lametti.

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