06/22/2015 04:19 EDT | Updated 06/23/2016 05:59 EDT

Brian Malley Denied Bail Pending Appeal In Bombing Murder

CALGARY - An Alberta judge has denied bail to a man convicted in the bombing death of a disabled woman.

Brian Malley was seeking release pending an appeal of his first-degree murder conviction.

A jury found the financial advisor guilty earlier this year of killing Victoria Shachtay, one of his clients.

The 23-year-old single mother died when she opened a bomb disguised in a gift bag that had been left at her innisfail home in 2011.

Court of Appeal Justice Jean Cote says 57-year-old Malley has good reason to skip bail.

In addition to serving a 25-year prison sentence, Malley is facing a class-action lawsuit from former clients.

The Investment Industry Regulation Organization of Canada found last year that he violated a number of its rules.

Malley's murder trial heard that Shachtay had entrusted him with more than half a million dollars she received in a settlement from a car crash that left her paralyzed. He lost all her money but was continuing to give her regular payments out of his own pocket.

The Crown argued he killed her to cut his losses. The defence countered that Malley was simply a generous guy.

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