A disbarred Toronto lawyer should serve up to six years in a penitentiary for a “premeditated and sophisticated” theft of $6 million in mortgage money she acquired behind the back of her former business partner, a well-known Toronto diet doctor, a prosecutor told a judge Tuesday.Crown attorney Craig Power told Superior Court Justice Michael Code that an aggravating factor of Norma Walton’s financial crime was that it involved a breach of trust because of her position as a lawyer.When Stanley Bernstein joined with Walton to build a real estate empire together, he “relied on her status as a lawyer when he placed his trust in her,” believing that she would be acting properly, Power said. He added Walton’s crimes were motivated by greed, and that there is no evidence of any “extenuating circumstances,” such as substance abuse.Bernstein invested more than $100 million in properties with Walton before he grew concerned about financial irregularities and stopped financing their ventures.What happened was the “golden goose had stopped laying eggs,” Power said.Needing money and “unable to maintain the illusion of being a real estate tycoon,” Walton obtained two mortgages totalling $6 million and then dispersed the funds, including transferring $460,000 to her personal account, the prosecutor continued.Code said a six-year prison sentence was at the top end of the sentencing range, adding that whether Walton receives that much depends, in part, on how much he finds she stole. Power argued Walton is responsible for the theft of the full $6 million, but agreed a lower sentence would be appropriate depending on the judge’s decision.Power said the defence position — set to be argued Wednesday — was that Walton is only responsible for the theft of the $460,000. During her trial, court also heard Walton had used some of Bernstein’s money to buy and renovate a sprawling mansion about ...
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