Livent founders await appeal ruling

Theatre moguls Garth Drabinsky and Myron Gottlieb expect to find out today if appeals on their fraud convictions were successful.

The pair were convicted on two counts of fraud in 2009.

A judge found both men manipulated Livent’s statements over nine years in an effort to attract investors before the company went bankrupt in 1998.

Both men claimed their accounting staff perpetrated the fraud without their knowledge, but the judge ruled otherwise and sentenced the two to six years in prison.

The appeal argues the judge was speculating when she decided Drabinsky and Gottlieb must have known about the fraud.