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Daniel P. Reeve describes the time he has spent at Maplehurst Correctional Complex as being full of lockdowns, fears of gang violence, uncomfortable mattresses and absent pillows.
Reeve, formerly a prominent Waterloo Region financial advisor, was found guilty last fall of fraud for duping 41 of his clients out of $10 million.
His sentencing hearing is taking place this week. It has heard from a number of Reeve’s victims, each of whom explained how his crimes had affected their lives. In many cases, they spoke of financial ruin, trust issues and broken personal relationships.
Reeve also took the stand to elaborate on his time in prison and why he believes it merits leniency from the judge. Court heard that Reeve feared gangs at Maplehurst to the point that he asked to be put in protective custody, and that he had spent more than 500 of his days in prison in lockdown.
The Crown argued that Reeve’s testimony wasn’t credible and should not be believed. On another point – that Reeve had not been given a pillow – the Crown said mattresses at Maplehurst came with built-in pillows.
Canadian law stipulates that prisoners are given extra credit for time spent in custody before their trial. In Reeve’s case, his credit for time served stands at eight years.
During the sentencing hearing, Reeve’s lawyer has been arguing that Reeve’s experience at Maplehurst deserves extra credit and should be considered to have already served 10 years of any sentence. The maximum sentence for fraud over $5,000 – which is what the Crown is seeking – is 14 years.
In addition to the 14-year sentence, the Crown wants Reeve to repay his victims $10 million to $20 million as a way of making amends. If he does not have the money to do that with, the Crown says, he should have another 10 years added onto his sentence.
Reeve’s lawyer says Reeve has no money, and any funds for restitution would have to come from his son.
Wednesday afternoon, near the end of the hearing, Reeve stood and apologized to his victims.
“How you have suffered for many years is an unbearable weight on me,” he said.
“I will spend the rest of my life making it up to you.”
The defence is asking for a sentence of eight to 10 years, arguing that Reeve should be released from custody so he can begin working to pay off his victims.
A sentence is expected to be handed down June 22.
With reporting by Nicole Lampa
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