Former Norbourg President Vincent Lacroix plans to appeal a court's decision to declare him bankrupt and seize his $37 million in assets, Montreal Gazette reports.

Following the discovery of $130 million missing at Norbourg last summer, which had belonged to approximately 9,000 investors, Quebec's financial regulator charged Lacroix with 51 counts of fraud, manipulation of mutual fund values and falsified documents.

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