Daniel P. Reeve to be sentenced in $10M fraud, theft case

The sentencing hearing in the largest fraud case by dollar amount in Waterloo Region’s history is set to begin in a Kitchener court this week.

In October, former financial advisor and author Daniel P. Reeve was found guilty of fraud and theft for swindling 41 clients out of $10 million.

Reeve’s trial took more than two years and heard from victims and employees of his investment businesses, as well as Reeve himself.

When proposing a sentence for Reeve, the judge asked the crown to look towards the largest fraud case in American history, Bernie Madoff, who was sentenced to 150 years for his role in a US$65-billion fraud case.

Reeve’s sentencing hearing is expected to last for one week.