< Verdict in Daniel Reeve fraud trial set for October - Canadian Fraud News Inc. | Fraud related news | Fraud in Canada

Verdict in Daniel Reeve fraud trial set for October

The verdict in the Daniel Reeve fraud and theft trial will be delivered early this fall.

Some of Reeve’s alleged victims had hoped a verdict would be delivered in June of this year and were visibly upset when they learned they would have to wait until October 13.

The 57-year-old former owner of Cambridge, Ont.-based DPR Financial Inc., has pleaded not guilty to fraud over $5,000 and theft over $5,000. If convicted, he could get 14 years in prison for fraud and 10 years for theft.

The prosecution alleges 41 investors lost a total of $10 million, making it one of the biggest alleged frauds ever in Waterloo Region. Many former investors say they lost their life savings before his firm failed.

Read more at The Record

This article is summarized by Canadian Fraud News Inc.