Wednesday, July 12, 2023

Charles DeBono free 1 year after $56m steal

A year after being sentenced for orchestrating one of Canada’s largest Ponzi schemes, Charles DeBono is free on day parole. When arrested in his bolthole in the Dominican Republic in 2020, the fugitive was so distraught that he said “they would have to kill” him before he’d go back to Canada. He even tried to wrap one of his shoelaces around his neck to convince folks he was serious. DeBono, 64, was the architect of Debit Direct, an 'investment opportunity' that supposedly provided debit terminals to small businesses. 515 people were duped out of $56 million by a shameless conman in a classic Ponzi scheme. After a four year investigation and prosecution, DeBono was sentenced to seven years, which was cut to just over four years after credit for pre-sentence custody. DeBono was also ordered to pay nearly $29 million in restitution to victims. Cops found $1.5m.