Since 2010, Ontario courts have ordered fraudsters to pay almost half a billion dollars in restitution to victims. However, in the second part of CBC Toronto’s investigative series, The Cost of Fraud, it is revealed that even the few fraud victims whose cases lead to a conviction face challenges in recovering their lost funds.
Carin Smith and her husband fell victim to a scam in 2008. They lost $70,000, which came from the equity in their home, and went directly into the pockets of Daniel Reeve, a convicted fraudster. Despite being found guilty of defrauding at least 41 victims of almost $11 million, Reeve was only ordered to pay restitution within ten years, even though the judge believed there was no likelihood of repayment. Smith has yet to receive any restitution from Reeve.
Reeve’s original sentence of 14 years was reduced to 10 years on appeal, and he was released in June 2020. This is just one example of the difficulties fraud victims face in recovering their lost funds, despite the restitution option meant to help them.
Smith’s life changed entirely because of the fraud she fell victim to. Her marriage ended, and she had to take on a full-time job working nights to avoid losing her home in Acton, Ontario. She also had to take on a new 25-year mortgage when she would have otherwise paid off her house in 10. She stated that the experience had made her distrustful of others and had altered her retirement plans.
CBC Toronto’s investigative series highlights how Ontario’s overloaded justice system is failing to deter and tackle most of the frauds in the province. The second part of the series emphasizes how even fraud victims whose cases lead to a conviction face an uphill battle recovering the money they’ve lost.
»Victims find it hard to get restitution from fraudsters despite court order in Canada«
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