Barrie, Ont., man sentenced for scamming hundreds of victims out of tens of millions of dollars
The mastermind of an elaborate Ponzi scheme that cheated hundreds of people of tens of millions of dollars was sentenced Tuesday in a Barrie, Ont., courtroom to seven years in jail.
Charles Debono has been behind bars since his arrest in 2020 for his role in one of the largest Ponzi schemes in Canadian history.
Earlier this year, the 63-year-old Barrie man pleaded guilty to money laundering and fraud.
The maximum penalty under the law is 14 years.
Crown attorney Patrick Travers said he was pleased with the judge's decision.
"Seven years under Canadian law is actually a very significant sentence," he said.
Related
- Barrie man busted in $56-million Ponzi scheme
- Barrie, Ont., man at centre of 'landmark' Ponzi scheme in court for sentencing hearing
- Victims say Barrie, Ont., man's landmark Ponzi scheme left them ruined
The Crown told the court Debono promised investors in his bogus debit machine business a 15-cent return on every transaction and that the scheme, involving more than 500 victims, led to more than $29 million in losses for investors.
Victim impact statements read to the court cited Debono's scheme brought on feelings of shame and regret for duped investors. Victims experienced financial and personal ruin, ending marriages and halting retirement plans.
In her sentencing decision, Justice Michelle Fuerst said Debono had "high moral blameworthiness," cheating investors of their life savings so he could live a life of luxury.
The judge outlined Debono's deliberate scheme, including falsification and destruction of records after he took the money and fled the country.
He was ordered to pay a fine of roughly $27 million in lieu of forfeiture within five years of his release. Failure to do so will land him in jail for another seven years.
Travers said the sentence may not seem harsh enough to some Canadians given "the degree of devastation among the victims" but noted that in Canada, a guilty plea is "very mitigating."
Debono's plea and previously clean criminal record mean he could be out by fall 2026.
Upon his eventual release, Debono is banned from seeking employment involving handling other people's money.
CTVNews.ca Top Stories
Quebec Cardinal Marc Ouellet accused of sexual assault in class-action lawsuit
Quebec Cardinal Marc Ouellet is accused of sexual assault in documents tabled in Superior Court Tuesday related to a class-action lawsuit against the Roman Catholic Archdiocese of Quebec. The allegations against Ouellet are part of a series of claims made against clergy members that are included in two class-action lawsuits against the church that have been authorized by a judge.
Parents will need a prescription for some children's liquid medication, SickKids warns
Parents of young children will need a prescription for some over-the-counter fever and pain medication due to a shortage in pharmacies, Toronto's Hospital for Sick Children is warning.
B.C. man among first approved for Canada's Vaccine Injury Support Program still waiting for compensation
A B.C. man, who was among the first Canadians approved for Canada's Vaccine Injury Support Program, says he is frustrated with the length of time it is taking to receive compensation.
Lead investigator in N.S. mass shooting says he stands by political interference accusations
The senior Mountie who made allegations of political meddling in the investigation into the 2020 Nova Scotia mass shooting defended his position to members of parliament Tuesday.
OPINION
OPINION | Economists are forecasting a recession in Canada, how should you prepare?
The next time the Bank of Canada raises interest rates on the scheduled date of September 7, 2022, it could potentially trigger a recession. Although there may be a chance that we don’t enter into a recession and the BoC is still hoping for a soft landing, it’s best to be prepared. Contributor Christopher Liew explains how.
First possible case of human-to-dog monkeypox transmission 'not surprising,' WHO says
The first possible case of human-to-dog transmission of monkeypox -- recently reported in a couple and their pet in Paris -- had been a theoretical risk up till now, said Dr. Rosamund Lewis, technical lead on the monkeypox response for the World Health Organization.
Are you struggling to pay rent? We want to hear from you
With rental prices rising due to an increase in demand, CTVNews.ca wants to hear from Canadian tenants who may be struggling to afford their home.
Baby rocker, swing recalled over strangulation hazard
Two infant products, manufactured by baby gear company 4moms, are being recalled due to strangulation hazards, according to a consumer product notice issued by Health Canada.
Canada's inflation rate slows in July despite price gains in food, rent, travel
Canada's year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices even as prices for food, rent and travel continued to rise.
Atlantic
-
N.S. shooting inquiry: Advice given to witness worries former judge
A former Supreme Court of Canada judge working with the inquiry into the 2020 Nova Scotia mass shooting says he's worried the federal Justice Department has been discouraging witnesses from being forthcoming with relevant evidence.
-
N.B. reports five new COVID-19-related deaths; hospital admissions stabilize
New Brunswick is reporting five more deaths related to COVID-19 in its weekly update.
-
P.E.I. reports no COVID-19 deaths, drop in cases, hospitalizations in weekly report
The Prince Edward Island government is reporting a drop in COVID-19 cases and hospitalizations in its weekly report.
Montreal
-
Quebec Cardinal Marc Ouellet accused of sexual assault in class-action lawsuit
Quebec Cardinal Marc Ouellet is accused of sexual assault in documents tabled in Superior Court Tuesday related to a class-action lawsuit against the Roman Catholic Archdiocese of Quebec. The allegations against Ouellet are part of a series of claims made against clergy members that are included in two class-action lawsuits against the church that have been authorized by a judge.
-
No plans to impose obligatory public health measures this fall: Quebec health officials
Quebec health officials say there is no plan to impose obligatory public health measures come this fall as the province launches its most recent COVID-19 booster vaccination campaign, targeting people living in CHSLDs and private seniors' residences.
-
Montreal boy in critical condition after parents find him unconscious in bath
A seven-year-old boy is in hospital in critical condition after his parents found him unconscious in a bathtub.
Ottawa
-
Cost of living putting pressure on families despite slight decline in inflation rate
Despite some relief at the pumps last month, the high cost of living continues to squeeze Canadians’ pocketbooks.
-
Charities in Kingston warn of increased demand for free lunch programs
As the cost of fruit and vegetables continues to climb, community organizations in Kingston that provide free lunch programs say they are seeing hundreds more people needing their services.
-
Three new COVID-19 deaths reported in Ottawa over the weekend
Ottawa Public Health is reporting three new COVID-19 deaths in Ottawa over the weekend.
Toronto
-
Ontario man gets massive surprise after winning lottery on first-ever ticket
A 24-year-old Ontario man who bought a lottery ticket for the first time says he has been left in complete shock after winning a massive prize.
-
Mysterious mountain of dirt appears in Toronto neighbourhood
Residents of a Toronto neighbourhood want answers after a massive pile of dirt appeared and no one seems to know where it came from.
-
Parents will need a prescription for some children's liquid medication, SickKids warns
Parents of young children will need a prescription for some over-the-counter fever and pain medication due to a shortage in pharmacies, Toronto's Hospital for Sick Children is warning.
Kitchener
-
Fire crews advise caution after more than 100 animals were killed in two separate barn fires
Rural fire crews were busy this week after two separate barn fires north of Kitchener were responsible for the deaths of over 100 livestock. Between the two fires, 116 cattle and four horses were killed, according to fire officials.
-
Cleanup from spring storm set to get underway in Kitchener park
It has been a months-long wait, but a major portion of a spring storm cleanup is scheduled to get underway at a Kitchener park.
-
Fire in Waterloo’s University District believed to have started in carport
Investigators are still trying to determine how a fire started at a home being rented by university students in Waterloo on Sunday.
London
-
London-Middlesex under severe thunderstorm warning
Tuesday began with sunshine, but will soon give way to thunderstorms as Environment Canada has just issued its first severe thunderstorm warning of the day for the London region.
-
Suspect assaults woman with knife, tapes her mouth and forces her into bathroom: London police
A London man is facing several serious charges after he allegedly assaulted a woman with a knife and held her against her will.
-
'I fear destruction of lives': London man sentenced to 9 years in massive gun and drug bust
William Boyd, 47, is going to spend the next seven years and 133 days in a penitentiary.
Northern Ontario
-
Parents will need a prescription for some children's liquid medication, SickKids warns
Parents of young children will need a prescription for some over-the-counter fever and pain medication due to a shortage in pharmacies, Toronto's Hospital for Sick Children is warning.
-
OPINION
OPINION | Economists are forecasting a recession in Canada, how should you prepare?
The next time the Bank of Canada raises interest rates on the scheduled date of September 7, 2022, it could potentially trigger a recession. Although there may be a chance that we don’t enter into a recession and the BoC is still hoping for a soft landing, it’s best to be prepared. Contributor Christopher Liew explains how.
-
New technology expected to improve school bus safety
With the return of classes just over three weeks away, back-to-school preparations are underway in northern Ontario, including mapping out bus routes, recruiting drivers and installing some new technology on buses.
Windsor
-
SIU releases identity of man with machete shot by police in downtown Windsor
Ontario’s Special Investigations Unit has released the identity of the man who was shot and killed by a Windsor police officer.
-
Windsor man sentenced to house arrest in fatal hit-and-run of 7-year-old boy
A Windsor man who hit a child with his vehicle, left the scene, and attempted to cover up his involvement in the incident was sentenced to a 12 month conditional sentence of house arrest in Provincial Court Tuesday morning.
-
'I think you're rich': Windsor man feeling 'grand' after $500,000 lotto win
A Windsor auto worker said his heart was pounding as he waited on a frozen terminal to learn he was the lucky winner of $25,000 for life.
Calgary
-
Proposed provincial policing plan would bolster Alberta’s rural, remote detachments
An Alberta Provincial Police Service would see sworn officers currently working in administrative positions at larger detachments redeployed to front-line roles in smaller communities, according to a proposed plan released Tuesday.
-
WEATHER
WEATHER | Excessive heat in Calgary straight into the weekend
Little reprieve. The high temps will continue to flirt with and, at times, eclipse the 30 C mark over the coming days.
-
Dawgs fourth in North American attendance as they prepare to meet Moose Jaw in finals
Just as they prepared to start the Western Canadian Baseball League finals Tuesday night, the Okotoks Dawgs announced that they're also a box office hit.
Saskatoon
-
Nine cats rescued in Mayfair house fire
Firefighters were called to a home in the 1700 block of Avenue D North at 8:38 a.m. with reports of a house visibly on fire with heavy black smoke coming from the roof.
-
Remote communities in Sask. get advanced healthcare thanks to AI project
An artificial intelligence (AI) project is expanding healthcare for remote communities in Saskatchewan.
-
Sask. private Christian school lease terminated following abuse allegations
A private Christian school in Saskatoon is having its lease terminated following widespread abuse allegations connected to the school.
Edmonton
-
Body of 14-year-old boy found in pond northwest of Edmonton
The body of the 14-year-old boy who drowned in a Whitecourt, Alta., pond on Sunday was recovered on Tuesday, RCMP told CTV News Edmonton.
-
Summer, increased scrutiny to blame for small crowds at world juniors: Hockey Canada
Empty seats have been a staple at the unusual world junior hockey championship in Edmonton this month — and Hockey Canada says scandals surrounding the organization are, in part, holding fans back.
-
Severe injuries after highway maintenance worker hit by vehicle in Parkland County: RCMP
A highway maintenance worker was taken to hospital after a crash on Monday evening.
Vancouver
-
DEVELOPING
DEVELOPING | Greater Vancouver Zoo temporarily closed, conservation officers on site
People hoping to visit the Greater Vancouver Zoo were turned away at the gates Tuesday morning.
-
B.C. men defrauded investors of $600K, used money to pay personal debts and bills
Three B.C. men defrauded investors of $600,000 – spending more than half of the money they obtained to finance a bogus battery business to repay personal debts, pay personal bills and make a slew of cash withdrawals.
-
Forecasters warn of 'short-lived’ heat wave on B.C.'s South Coast this week
Several heat warnings have been issued across B.C.'s South Coast, where a "short-lived" heat wave is expected to send temperatures soaring this week.