Brandon Antonini, 45, has been found guilty on 13 counts of fraud and 10 counts of theft in a multi-million-dollar case in which investors were duped into providing bridge financing for real estate deals.

Provincial court judge Gordon Wong said Friday the credibility of Antonini was a key factor in the case. Wong said Antonini "spun a series of lies to mask his complicity."

"The judge saw right through him and nailed him accordingly," said Stuart Hay, one of Antonini's victims.

"It's been rough, to trust somebody and they do that to you. It's the first time that ever happened to me in my life and I don't want it to happen to me or anybody else," said Hay.

Hay claims he lost $600,000 in several investments with Antonini and Floyd Campbell.

Campbell is a former Calgary lawyer who was disbarred after admitting to misappropriating millions of dollars from his clients. Campbell will be sentenced for his role in the scheme July 26.

Testimony 'totally unbelievable,' says judge

Judge Wong took about 90 minutes to read through his decision. He said he believes Antonini lied to the court and that his testimony was "totally unbelievable."

Antonini, who was a licensed mortgage broker at the time of the offences, claimed he had no knowledge the deals were fraudulent and he said false documents presented to potential private lenders were prepared by Campbell.

"It was an act of dishonesty that cannot be explained away," said Wong.

Antonini, who is not in custody, had no reaction as the judge found him guilty on 23 charges.

His lawyer, Patrick Fagan, asked for a pre-sentence report. Antonini will return to court Nov. 30 for sentencing.

Hay would like to see Antonini serve time in prison.

"I hope he goes to federal prison for at least four years, if not more," Hay said outside the Calgary courthouse.