The man accused in the largest fraud case in Waterloo Region history was told Monday that he can be let out of jail in advance of his trial – but in order to do so, he needs to come up with a new plan.
Daniel P. Reeve has been in prison since the summer of 2012, when he was arrested and charged with several fraud-related offences.
At the time, police alleged he had bilked 175 victims out of more than $30 million between 2006 and 2009 through his investment businesses, including DPR Financial and Jakobstettle Inn.
Appearing in a Kitchener court Monday, Justice Colin Westman ruled that Reeve could be released from jail, but not under the terms of his original request.
Instead, Westman said, Reeve must find two people willing to pay a combined $80,000 in order to be released from custody.
Reeve’s lawyer, Mary Cremer, tells CTV News she was pleased Westman ruled her client could be released.
“We now have to work to meet the conditions of the bail imposed,” she says.
“Mr. Reeve is very anxious to have his trial heard. He’s definitely anxious to put everything behind him.”
The fraud trial is expected to be lengthy and begin sometime in 2014.
