Verdict still months away in protracted Daniel P. Reeve trial

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Many of the alleged victims in the fraud and theft trial of Daniel P. Reeve were visibly upset Monday when they learned they will have to wait another four months before they get a verdict in the protracted trial.

“It’s just so frustrating,” said Caren Smith, when Justice Toni Skarica said he would deliver his verdict in October, “this should already have been long done.”

Reeve, the former owner of Cambridge, Ont.-based DFR 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 in the Waterloo, Ont. Region.

The trial has heard testimony from more than 70 witnesses and filed 322 exhibits.

By the time the verdict is delivered in October, the 57-year-old will have been in jail for more than five years.

Read more at The Record

This article is summarized by Canadian Fraud News Inc.