Ontario judge offers abridged process in case of alleged $10-million theft of music-industry money

Music-funding provider FACTOR’s quest to recover nearly $10-million it says was stolen from its Bank of Nova Scotia account can proceed with an expedited court process without a formal trial, a judge said.The Foundation Assisting Canadian Talent on Recordings filed an application in July against Scotiabank and the cryptocurrency platform VirgoCX seeking to recover $9.8-million that allegedly disappeared from its account in June. It later added one of the bank’s clients, whose account allegedly briefly received the missing funds before transferring them to VirgoCX, to the application.Much of the English-Canadian music industry depends on FACTOR to cover costs – not just musicians seeking financial help to record, market and tour their music, but also artist managers, music publishers, record labels, music distributors and event organizers.