Former Legal Counsel to the Legislative Assembly of Alberta Michael Ritter has been released from prison after serving 18 months of a 10 year sentence at a minimum security prison in Grande Cache, Alberta. Three years ago, Ritter pleaded guilty to stealing $10.5 million from one client (who had stolen $43 million from Merrill Lynch) in a deal to avoid extradition to the United States for helping another client revive a $270 million Ponzi scheme that victimized more than 6,500 American investors.
The 6,500 American investors may be interested in reading a recent Globe & Mail feature to learn that Ritter has returned to his lavish home in Edmonton, and according to his Facebook status has:
"finally got his Jaguar running again after not driving it for over three years!"Federal Justice Minister Rob Nicholson recently announced his intentions to introduce legislation to help combat white-collar crime.