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Nation's biggest tax fraudster who stole $17 million jailed for 8 years and 6 months


John Bracken told the court he had always done what his accountants and his bank had asked.
Crown lawyer Megan Mitchell said the crime called for a high sentence as it was the largest crime of its kind.
She said the fraud was “repetitive and involved a high degree of planning and premeditation” and Bracken only stopped offending when he became aware it had been detected.
She said about $12m of property had been restrained and efforts to recover this were underway but were being “vigorously opposed” by Bracken.
Some funds had been recovered but there remained $1.1million outstanding that would never be recovered, she said. ....

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Pandemic leads to another record-setting deficit for Minnesota Orchestra


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For the second year in a row, the Minnesota Orchestra posted a record-breaking deficit. The operating loss of $11.7 million reported Thursday is the largest in its history, topping last year s $8.8 million.
COVID-19 is one obvious cause. Financial results for fiscal year 2020, which ended Aug. 31, capture the first months of the pandemic, which shuttered Orchestra Hall along with theaters and concert halls across the country.
The orchestra had to cancel 52 ticketed concerts and 19 rental events, leading to a $2.7 million drop in revenue from tickets, rentals and concessions compared with the year before. The pandemic also scotched the nonprofit s biggest fundraiser, one factor in a drop in contributed revenue. ....

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