Connect with us
X
Categories:

General

63-Year-Old White Canadian Man Defrauds 515 Nigerians, Others Of $29 Million

Published

on

Share this post:

DOWNLOAD MP3 SONG

 

Charles DeBono, a 63-year-old Barrie, Ontario man who defrauded hundreds of investors out of millions of dollars will have to pay back $26.9 million in restitution after he was handed a seven-year sentence today.

Approximately 515 people, mostly from Nigeria but also in Canada lost a combined $29 million, leading some to lose their life savings and retirement incomes between 2012 and 2017.

The Nigerian Victims
They did their due diligence and looked into the business opportunity before investing. They lived in Nigeria and found nothing — no red flags, no bad history, no indication of what actually lay ahead.

In the end, the Nigerian investors lost thousands of dollars in what they later learned was one of Ontario’s largest frauds.
An investor from Nigeria told the Canadian police how he lost US$80,000— money he had earned investing in the petroleum sector.

‘For me, I didn’t expect this type of thing to happen in Canada. It’s a developed country,’ “I checked everything. In fact, it took me one year before deciding,” he declared at the Barrie, Ontario courthouse. “I was asking people, checking.” Even the online reviews, he recalled, were very good.

Other colleagues in Nigeria had also invested. He said there were a lot of investors from Nigeria.

The Nigerian man believes that some of the early investors recovered their money in full — which would explain the positive online reviews that, at the time, encouraged others to throw their money DeBono’s way.

The Fraudster
DeBono sold fake investments in a point-of-sale terminal ownership program in what police said was nothing more than a Ponzi scheme.
When banks started shutting him down in 2017, he fled to the Dominican Republic with millions of dollars as well as hundreds of thousands of dollars worth of cars and other assets.

The Barrie man had no criminal record and held regular middle-class jobs, including in the local used car industry, before creating KIS Media Ventures in 2012, which served as an umbrella organization for illicit companies, including Debit Direct and Business Partners Ventures Inc.

RECOMMENDED  [STORY] ALONE (Episode 21)

Using fake brochures and elaborate sales messages, DeBono used sales agents and sold his scheme on websites and at trade and franchise shows across the country, according to an agreed-upon statement of facts filed with the court.

Those recruited to sell believed they were selling a legitimate business opportunity. The point-of-sale terminals were to be placed in high-volume businesses across Canada and the investors were to receive 15 cents per transaction in monthly payouts.

Once he secured clients who thought they were investing in the machines, he sent them monthly financial statements and even dividend cheques in the early days.

However, the returns on the terminals were actually being funded by new investor deposits.

Crown prosecutor Ted Ofiara earlier told the court there was no evidence that any machines were ever placed in businesses and likely the only scanning machines linked to DeBono were the ones he displayed to sell that became a Ponzi scheme.


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Chief Oyerigha Echo Toikumoh - The Earlier The Better
Music1 week ago

[Music] Chief Oyerigha Echo Toikumoh – The Earlier The Better

Enzo Maresca and Mikel Arteta stated they will not take Pep Guardiola's place at Manchester City
Sports1 week ago

Enzo Maresca and Mikel Arteta stated they will not take Pep Guardiola’s place at Manchester City

Alan Shearer reckons Liverpool star is ‘not going to get better’
Sports1 week ago

Alan Shearer reckons Liverpool star is ‘not going to get better’

NECO examiners threaten nationwide protest over unpaid entitlements
News1 week ago

NECO examiners threaten nationwide protest over unpaid entitlements

Jonathan congratulates Trump on historic election win
News1 week ago

Jonathan congratulates Trump on historic election win

Peter Obi can become president in 2027 — Yunusa Tanko
News1 week ago

Peter Obi can become president in 2027 — Yunusa Tanko

Dua Lipa forced to cancel show after ‘unforeseen safety issues’
Entertainment1 week ago

Dua Lipa forced to cancel show after ‘unforeseen safety issues’

Uzoamaka Onuoha wins Best Female Performance in a feature at AFRIFF 2024
Entertainment1 week ago

Uzoamaka Onuoha wins Best Female Performance in a feature at AFRIFF 2024

'Phoenix Fury' bags Best Film award at the 13th edition of AFRIFF
Entertainment1 week ago

‘Phoenix Fury’ bags Best Film award at the 13th edition of AFRIFF

Vivo begins teasing new Dimensity 9400 flagships internationally
Technology1 week ago

Vivo begins teasing new Dimensity 9400 flagships internationally

Google Pixel 11 and Pixel 11 Pro may trade performance gains for longer battery life
Technology1 week ago

Google Pixel 11 and Pixel 11 Pro may trade performance gains for longer battery life

Manchester United players warned ‘only one is safe’ under Ruben Amorim
Sports1 week ago

Manchester United players warned ‘only one is safe’ under Ruben Amorim

Austin DeAnda given impromptu makeover after he is forced to have haircut in the middle of fight
Sports1 week ago

Austin DeAnda given impromptu makeover after he is forced to have haircut in the middle of fight

IG orders punishment for errant cops
News1 week ago

IG orders punishment for errant cops

Be ready to recover stolen mandate — Ighodalo tells PDP
News1 week ago

Be ready to recover stolen mandate — Ighodalo tells PDP

No part of Ogun will be ceded under my watch — Dapo Abiodun
News1 week ago

No part of Ogun will be ceded under my watch — Dapo Abiodun

Ruger calls out auto tune and hype culture in music
Entertainment1 week ago

Ruger calls out auto tune and hype culture in music

I hate to play same role repeatedly — Actress Bimbo Akintola
Entertainment1 week ago

I hate to play same role repeatedly — Actress Bimbo Akintola

Fans split on Davido, Wizkid, and Burna Boy's Grammy nominations.
Entertainment1 week ago

Fans split on Davido, Wizkid, and Burna Boy’s Grammy nominations

Samsung Galaxy S25 Slim: Leaker reveals launch details for Samsung's rival iPhone 17 Air
Technology1 week ago

Samsung Galaxy S25 Slim: Leaker reveals launch details for Samsung’s rival iPhone 17 Air

Realme names first smartphone to get Android 15 beta worldwide
Technology1 week ago

Realme names first smartphone to get Android 15 beta worldwide

England interim manager tipped for surprise Premier League job
Sports2 weeks ago

England interim manager tipped for surprise Premier League job

Hakim Ziyech mocks Israeli supporters attacked in Amsterdam
Sports2 weeks ago

Hakim Ziyech mocks Israeli supporters attacked in Amsterdam

Court jails seven for internet fraud in Kaduna
News2 weeks ago

Court jails seven for internet fraud in Kaduna

Edo APC criticizes Obaseki’s last-minute appointments
News2 weeks ago

Edo APC criticizes Obaseki’s last-minute appointments

Edo PDP announces caretaker committee
News2 weeks ago

Edo PDP announces caretaker committee

Tems makes history after securing 3 nominations for the 67th Grammys
Entertainment2 weeks ago

Tems makes history after securing 3 nominations for the 67th Grammys

Beyoncé surpasses Jay-Z to become the most nominated artist in Grammy history
Entertainment2 weeks ago

Beyoncé surpasses Jay-Z to become the most nominated artist in Grammy history

Davido, Wizkid, Tems, Asake make 2025 Grammy nominations
Entertainment2 weeks ago

Davido, Wizkid, Tems, Asake make 2025 Grammy nominations

Davido, Wizkid, Tems, Asake make 2025 Grammy nominations
Entertainment2 weeks ago

2025 GRAMMY: Academy unveils category changes ahead of nomination event

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Final Episode 13)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 12)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 11)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 10)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 09)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 08)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 07)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 06)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 05)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories2 weeks ago

[STORY] THE PASTOR’S DAUGHTER (Episode 04)

ANE Billboard Hots



Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.