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.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.