Former Orillia investment adviser Kevin Douse has pleaded guilty in court to defrauding 25 clients, including family members, of more than $1.8 million.
A former Orillia financial adviser has admitted to defrauding 25 clients out of more than $1.8 million, many of them family members and close friends. Kevin Douse, 40, appeared in a Barrie courtroom where he entered a guilty plea to one count of defrauding the public following a 16-month Ontario Provincial Police investigation.
Douse had been accused of convincing clients to write cheques payable to him personally rather than to investment firms, and then cashing them for his own use. Investigators also allege he falsified and forged documents to cover up the misappropriation of funds. His company, WLTH Inc., is no longer in operation.
Court heard that Douse’s victims included his in-laws, his grandmother, and other relatives. One victim, Barb Trovarello, who was battling terminal cancer at the time, lost approximately $145,000 before passing away shortly before Douse’s arrest in April. Her sister described the betrayal as devastating, noting that Douse repeatedly lied to family members who trusted him.
The Crown detailed the losses of each of the 25 victims, much of which remains unrecoverable. Outside court, Douse declined to comment when asked about the harm caused.
Sentencing submissions are scheduled for October 7 in Orillia.
