Disgraced investment dealer Frank Harrison Dew was sentenced to 54 months in federal prison Wednesday in Charlottetown Provincial Court, for bilking clients out of millions of dollars.
Dew, 50, who ran a business called Morton Dew Ltd., in Charlottetown, had pleaded guilty to 26 counts of fraud.
“This is a major fraud,” Crown Prosecutor Jeff MacDonald told court. “He used his reputation as an investment advisor to prey upon his victims. Their trust in him was complete and he used that trust to defraud them.”
Dew and a co-conspirator defrauded their clients of $2,911,076.64 over a five-year period ending in June 2015, according to an agreed statement of facts between the Crown and Dew.
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