A Barrie fraud artist, who bilked hundreds of victims for more than $26 million, has had his day parole extended for another six months by federal authorities.
Charles DeBono, 65, 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 of 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 its decision on DeBono July 9, 2024.
‘The Board is satisfied that your risk would not be undue during another period of day parole. In summary, while acknowledging the nature and gravity of your index offending, there have been no concerns since your release into the community.’
In January 2013, the board said, DeBono launched a company 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 transferred much of these proceeds overseas to his accounts in the Dominican Republic, the board said.
After Canadian banks became suspicious of his activity, the board said, DeBono fled to the Dominican Republic with the remainder of his assets and stopped maintaining the Ponzi scheme in September 2017.
DeBono was deported back to Canada in September 2020, the board said, and arrested upon his return.
There is a 475-page victim impact statement on file, which outlines statements from 400 of the approximately 515 victims.
In addition to DeBono’s sentence, the judge imposed a non-communication order, a restitution order in the amount of $26.91 million, a fine in lieu of forfeiture in the amount of $26.91 million, and 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 is unable or unwilling to repay his restitution order within five years of his release from custody.
On June 28, 2023, the board conducted a review of his day and full parole application, by way of a hearing. The board denied full parole but granted day parole to a Community-Based Residential Facility (CBRF) for six months.
The board continued his day parole for another six-month period in December 2023. It imposed special conditions, including financial disclosure, no contact with victims, following a treatment plan, telecommunication restriction, no contact with a certain person and an ‘other' special condition — not to use or possess any identification not issued in his true and proper name. Leave privileges were authorized and DeBono was released on day parole on July 13, 2023.
The Correctional Service of Canada's (CSC) recommendation is that the board continue DeBono’s day parole. The CSC has noted that while DeBono appeared to do well on release, he is not yet financially stable in the community. Furthermore, he does not have friends or family willing to provide full-time accommodations.
As a result, the CSC said it believes that a continued day parole release will allow DeBono to continue to work on setting himself up in the community prior to transitioning to a full parole release.
The board has granted that day parole for DeBono continue for six months.
