A 14-year prison sentence. An order to repay his victims $20 million. Another 10 years in prison if he can’t come up with the money.
That’s what the Crown thinks would be an appropriate sentence for Daniel P. Reeve – at least, within the confines of Canadian law, which sets out a maximum sentence of 14 years for Reeve’s crimes.
Reeve was found guilty last fall of various fraud- and theft-related crimes following a lengthy trial. Reeve was first arrested in 2012 over what became the largest fraud case by dollar amount in the history of Waterloo Region.
His convictions related to the discovery that the self-promoting financial advisor had swindled 41 of his clients out of a combined $10 million. There were other allegations involving another 134 clients, although those were dropped before the trial began.
Reeve’s sentencing hearing began on Monday, with many of his victims outlining how his crimes had affected their lives. A Kitchener courtroom heard stories, often through tears, of financial hardship and personal humiliation brought about by Reeve taking their savings, promising large returns and never delivering.
Reeve’s lawyer is expected to argue for a sentence of time served, given that Reeve has remained in custody for the six years since his arrest.
