Ontario Court to Hear Appeal of Case Finding Fraud Involving Elderly American Investors and Leading Canadian Law Firm of Cassels Brock & Blackwell LLP

AMERICAN VICTIMS OF FRAUD TO HOLD PRESS CONFERENCE ON THE UNWILLINGNESS OF CANADIAN AUTHORITIES TO STEM THE TIDE OF WHITE COLLAR CRIME IN CANADA

TORONTO, June 15, 2011 /CNW/ - On June 22, 2011, the Ontario Court of Appeal will hear the appeal of a recent decision concerning two separate lawsuits granting Judgment in favour of American Plaintiffs for fraud against Robert Hryniak, a Toronto resident, in a fraudulent scheme commonly known as "Prime Bank Fraud".

The judgments for fraud against Mr. Hryniak are in the sums of $1,190,401 USD and $1,000,000 USD, respectively, on two motions for summary judgment brought by 14 American investors who claim that a one-time Managing Partner, Gregory Jack Peebles, of Cassels Brock and Blackwell LLP and a former long-standing client, Robert Hryniak, were complicit in a scheme to defraud them of millions of dollars.

In detailing the evidence on the motion, The Honourable Mr. Justice Grace remarked that "[t]he threads of dishonesty are everywhere" and with respect to the evidence of Mr. Hryniak in particular, Justice Grace stated that "Mr. Hryniak's answers strike me as utter nonsense"... "I do not believe Mr. Hryniak.  I do not believe there was a 'Trading Program'."

Mr. Hryniak now seeks to set aside the judgments against him on procedural grounds. The Plaintiffs, who have waited more than ten years for this partial victory, are deeply troubled that a successful appeal by Mr. Hryniak may further delay their pursuit of justice or altogether prevent them from recovering the funds that were stolen by Hryniak, who may get away with having committed fraud.

These Plaintiffs and other American Plaintiffs who have been victims of fraud in Canada will be holding a press conference at the University Club of Toronto, 380 University Avenue, Toronto, Ontario, M5G 1R6, on June 22, 2011 at 3:00 PM (EST) on the targeting of American investors by Canadians and the inability or unwillingness of Canadian authorities to prevent fraud and to investigate and charge those who commit fraud.

Robert Hryniak

Robert Hryniak is a Toronto resident who holds himself out as the principal of Tropos Financial Corporation, Tropos Equities Corporation and Tropos Capital Inc.

Cassels Brock and Blackwell LLP

Cassels Brock and Blackwell LLP is one of Canada's oldest and largest law firms headed by Ontario's former Liberal Premier, The Honourable David R. Peterson.  The firm also employs another former Ontario Premier, The Honourable Mike Harris, as a senior business adviser.

For background information, including the recent court decision and court documents, visit: http://www.brunovcassels.com.

Please note that the allegations contained in the Statement of Claim against Cassels Brock and Blackwell LLP and Gregory Jack Peebles have not yet been proven in a Court of law. However, the recent court decision found that Mr. Hryniak had committed fraud.

Gregory Jack Peebles

Gregory Jack Peebles is a former Managing Partner of Cassels Brock and Blackwell LLP and a senior commercial lawyer who was retained by Robert Hryniak to draft the various agreements associated with Mr. Hryniak's fraudulent scheme, meet with potential investors and hold in escrow and distribute investor funds, which totalled millions of dollars.

The Plaintiffs

Many of the Plaintiffs are elderly American citizens who lost their life savings to Mr. Hryniak's fraud.

For further information:

Javad Heydary or David Alderson, Counsel for the Plaintiffs, Heydary Hamilton PC Phone: [phone]

E-mail: [e-mail]

Email: [e-mail]