Ponzi schemer Rashida Samji sentenced to 6 years in prison

A B.C. woman has been sentenced to six yearsin prisonforrunning a $110 million Ponzi scheme.

Rashida Samjiwas found guiltyon 14 counts of fraud relating to284 named investors and companies who were led to believe their money was being invested ina winery's planned expansion toSouth Africa and South America.

"Sheknew exactly what she was doing and went forward witheyes wideopen," said provincial court judge GregoryRideout.

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Rideoutalso saidSamjiusedher victims' money to live the kind of comfortable lifestyle she could no longer afford.

Samjihooked investors by promisingsteady, secure returns of up to 12 per cent.In reality, money from new investors was used to pay dividends to old ones.

The 63-year-oldwas also ordered to pay restitution of more than$10 million to victims. She is also facing a $33-million fine previously ordered by the B.C. Securities Commission.

Within hours of being sentenced, Samji's defence team filed a notice of appeal in relation to the ruling which resulted in her conviction.

In the originaldecision, Rideoutsaid hitting Samji with bothcriminal prosecution and securitiescommission sanctions didn't amount to double jeopardy.

Samji was granted bail on a surety of $100,000.