A 66-year-old man, who owes victims of his elaborate fraud scheme almost $27 million, has been told he needs to "secure and maintain gainful employment" to pay back the money and settle his tax debts.
Charles DeBono, 66, is serving time for laundering the proceeds of crime and fraud over $5,000. He was sentenced to seven years after pleading guilty in February 2022, a sentence reduced to four years, three months and 19 days when DeBono was given credit for pretrial custody.
The Parole Board of Canada released a change of conditions decision on DeBono on Jan. 3.
In the report, the Correctional Service of Canada (CSC) recommended to the parole board that "special conditions" be implemented for DeBono to “seek or remain employed, no contact with the victims, follow treatment plan, not to possess identification that is not properly issued to you, telecommunication restriction, no contact with certain person and financial disclosure.”
These conditions are to remain in effect for the duration of his release, according to the board.
The board says DeBono launched a company in January 2013 which he claimed was a point-of-sale debit terminal ownership program, but was instead a Ponzi scheme that he operated under an alias.
More than 500 individuals invested in this company, not knowing that it was an illegitimate business, the board said.
In total, victim losses were estimated to range from approximately $24 million to $42 million.
DeBono then transferred much of these proceeds overseas to his accounts in the Dominican Republic, the board said.
After Canadian banks became suspicious of his activity, DeBono fled to the Dominican with the remainder of his assets and stopped maintaining the Ponzi scheme in September 2017.
DeBono was deported back to Canada in September 2020 and arrested upon his return.
In addition to DeBono’s sentence, the judge imposed a non-communication order, a restitution order in the amount of $26.91 million and a fine in lieu of forfeiture in the amount of $26.91 million. He also received a lifetime order not seek, obtain or continue any employment or become or be a volunteer in any capacity that involves having authority over the real property, money or valuable security of another person.
DeBono could face a seven-year consecutive sentence if he's unable or unwilling to repay his restitution order within five years of his release from custody.
On June 28, 2023, the board held a hearing a review his day and full parole application. The board denied full parole, but granted day parole to a community-based residential facility (CBRF) for six months. It was later extended for another six months.
In this latest decision, the parole board says DeBono had struggled to establish himself in the community while on day parole.
“Your job-search efforts to date have been too narrow, too restrictive and too passive," stated the report. "You need to secure and maintain gainful employment in order to achieve financial stability, obtain independent living accommodations, pay your court-ordered restitution fees, and settle your tax debts.
"As such, you are to remain gainfully employed or continue to actively search for employment or pursue academic upgrading."
