David Reeve says he told client to call the cops on his brother
David Reeve’s testimony at the fraud trial of his brother Daniel P. Reeve continued Wednesday.
He had a few kind words for his brother – calling him the best salesman he ever knew, for example – but also levied some accusatory terms at the financial advisor.
Daniel P. Reeve is accused of defrauding 41 people out of $10 million through businesses like DPR Financial.
He has pleaded not guilty.
David Reeve worked for his brother as a financial advisor for a number of years, and became president of DPR Financial in 2007.
During that time, his name and signature appeared on three forms from DPR clients requesting that their investments be withdrawn.
Although the forms date back to his time at the head of the company, David Reeve testified Thursday that he never signed them or was aware they had been put through.
Reeve had previously testified that Daniel P. Reeve “made all the decisions” at DPR Financial, and that he couldn’t so much as order a paper-clip without his brother’s authorization.
David Reeve left DPR Financial in October 2008 – one year before police began investigating the company and the Reeve brothers.
About a month after leaving the company, he testified, a client of his discovered that Daniel P. Reeve had never purchased the Breadalbane Inn – an investment property he had been touting to clients.
“You need to call the police,” David Reeve said he told his client.
Court heard that David Reeve only appeared at the trial after being subpoenaed.
Defence lawyers suggested that he was unwilling to speak to the police because he knew he was also a suspect in the alleged fraud.
Reeve – who had previously said that his testimony was not being offered in exchange for any sort of deal with the Crown – denied that, saying he only learned he was a suspect in the spring of 2014.
Court also heard claims that Daniel P. Reeve lived a “larger than life lifestyle” before the police investigation began, including limousine and helicopter transportation.