A suspect in the 2007 shooting death of a Toronto environmental philanthropist was found guilty of first-degree murder on Tuesday afternoon, while a mistrial was declared for a second suspect.

Ivgney Vorobiov was found guilty in a Toronto courtroom just before 4 p.m., but a judge declared a mistrial for the second suspect, Dmitri Kossyrine, a short time later.

Glen Davis, 66, died in an underground parking garage near Mount Pleasant Road and Eglinton Avenue East after he was shot with a 9mm in the heart and the back.

"It does not bring Glen Davis back to his family, his friends and his many endeavours," Det. Sgt. Peter Moreira said outside the court on Tuesday. "There is nothing positive about this, except that there is some accountability for the actions of Ivgeny Vorobiov."

Vorobiov was sentenced to life in prison with no chance of parole for 25 years.

Davis' 41-year-old godson, Marshall Ross, pleaded guilty to first-degree murder in October and received the automatic sentence of life in prison with no possibility of parole for 25 years.

The Crown had alleged that Kossyrine was the middle man in a murder-for-hire plot masterminded by Ross and Vorobiov was the shooter. Ross owed Davis $2.3 million.

Both Vorobiov and Kossyrine had pleaded not guilty.

It was argued by the defence that Vorobiov went to the garage with a loaded gun intending to kill Davis but changed his mind at the last minute. The defence argued that it was another man, Jesse Smith, who pulled the trigger.

Smith pleaded guilty last year to being an accessory after the fact to murder.

Kossyrine remains in custody and will be back in court Jan. 18.

With a report from CTV Toronto's John Musselman and files from The Canadian Press