Ritter
Ritter (L), stacks of cash, and Carter (R)
Michael Peter Ritter is a white collar criminal in his early fifties from Edmonton. He is a thief, a fraudster, and money launderer. Just how bad a guy he is can be gleaned from reading these pieces: http://www.canada.com/edmontonjournal/news/insight/story.html?id=8269fb3e-ca94-4f14-844f-fade85722942
http://www.theglobeandmail.com/news/national/the-man-who-could-make-money-disappear/article1319486/
Ritter was a wealth manager when the gendarmes finally caught on to him. Like many in the wealth management game he was intelligent, cool, and glib. As people were to discover he was also a nonpareil liar. He lied about having a law degree. He lied about finishing his studies at the London School of Economics. He lied about being admitted to Gray’s Inn for English barristers. He lied about being an intern in the House of Lords Legal division. He lied about attending the University of Geneva and he lied about having been an advisor to the Swiss Bankers Association. And all of that happened years before he got into his legal quagmire at which time he began to tell more lies.
Those early lies about his experience and education helped him wangle a job in the hapless Don Getty Progressive Conservative government in 1988. He conned Getty’s motley crew into making him chief parliamentary counsel to the speaker of the Alberta Legislative Assembly – one of the qualifications for which was that the applicant had to be a lawyer. The speaker in those days was the very pious appearing – and, as it turned out, fabulously naïve - Anglican man of the cloth by the name of David Carter, now happily retired and living somewhere in the Cypress Hills.
The job description for Ritter’s governmental post included advising the Alberta government on parliamentary procedure, constitutionality of legislation, conflicts of interest, and alleged improprieties of members. During his tenure, he took the position that the government and the speaker could do anything they wanted to do – even when it came to roughing up reporters. The Tories loved him. He was one of their true blue enforcers. He could do no wrong. In 1993 with his patron Carter’s retirement from government and politics Ritter followed suit, and soon began his sordid career as a wealth manager.
Law enforcement officials began looking into his affairs in the summer of 2002 and in October of 2003 he was indicted on several fraud related charges in Los Angeles that could have landed him in jail for life. He spent the next four years trying to fight off his tormenters by using every legal and illegal trick in the book – including arranging for a false passport under an erroneous name. Finally, on October 27, 2006 in an Edmonton courtroom he pleaded guilty to stealing 10.5 million bucks from one client, and of engaging in a Ponzi scheme that bilked 6500 investors out of 270 million dollars. He chose to cop out in Canada to avoid further prosecution in the U.S. where, had he been extradited and convicted there, he knew he would be spend a hell of a lot more jail time than in Canada. Once Canada got the guilty plea, the Americans folded their tent.
Much of the dough he made off with was the life savings of little people of modest means. He blew the money on lawyers, his pals, rich kids’ toys - like two private planes and a sky box for Edmonton Oilers games - and more of the good life. In other words he spent the money on himself. For a brief accounting of some of his expenditures and tastes read:
http://www.canada.com/edmontonjournal/news/insight/story.html?id=8269fb3e-ca94-4f14-844f-fade85722942
Surprisingly, some of his old government pals even tried to help him out by submitting character references to the court in an effort to get the Judge to go easy on him. Among them were Tory ex-minister Jim Horsman, ex-speaker Carter, and, oddly enough, even two former NDP leaders, Ray Martin and Pam Barrett. The judge that heard the case took the joint advice of the prosecutor and defence counsel, and sent the charlatan to the big house for ten years. So far so good.
However, about four months ago, the National Parole Board – now stacked with Tory and Conservative friends of Stephen – paroled Ritter. He had served a meager 18 months in a minimum-security prison for his dastardly deeds. Not only that, even though at his sentencing Ritter agreed to help track down the money he had filched so as there would be some restitution to his victims, not a dime has been forthcoming. Despite all of the aggravating circumstances the Board followed its policy of releasing non-violent offenders who have served only one-sixth of their time. After 18 months of jail time Ritter is free - free to wheel his Jaguar around town and live in baronial splendour in expensive three storey digs replete with a home theatre and cherry wood humidor, and plan his next move.
The case raises many issues and concerns. To say that the case is a sad reflection on the Canadian parole system under the Harper government is an understatement. The parole board gave him kid glove treatment for serious crimes that deserved real and prolonged punishment. Also, following in the tradition of Alan Eagleson, Conrad Black, David Radler and most recently Peter Pocklington, the prosecutions emerged not in Canada but in the United States once again for the reason that Canada lacks the resources to go after white collar criminals.
Then there is the curious case of David Carter. In most circles Carter was and is a well-respected Anglican clergyman. However as a speaker, his tenure was not applauded by the opposition. Too often he appeared to be pedantic, condescending and unduly critical of the opposition’s attempts at keeping the government honest. The fact that he worked with Ritter for so long without suspecting his mendacity is astonishing; that he would submit a character reference for the scoundrel after he more than others were lied to and misled by Ritter is even more strange.
But that’s not all. In 2001 Carter had his picture taken together with Ritter and a kitchen counter full of $20 bills. The money is thought to be all or part of $400,000 fraudulently scooped by one of Ritter’s clients and then given to Ritter for deposit into a Swiss bank account. Carter acknowledges that he helped Ritter take the money to Switzerland but was not suspicious about the trip because, “Wasn’t my business.” When he was asked what his reaction would be if he knew that the goal of the Swiss deposit was to evade taxes, the ordained Anglican priest said, “Hey, . . . that’s been going on for decades.”
That Carter exercised poor judgment in his dealings with Ritter is obvious. His blithe and reckless attitude towards what Ritter was doing with the money is either fabulously naïve, profoundly stupid, staggeringly arrogant, or stunningly and abominably amoral. Perhaps it is all of those things.
That Carter exercised poor judgment in his dealings with Ritter is obvious. His blithe and reckless attitude towards what Ritter was doing with the money is either fabulously naïve, profoundly stupid, staggeringly arrogant, or stunningly and abominably amoral. Perhaps it is all of those things.
