fraud

Why does crime pay in Canada? A look at investor fraud

Former Victoria financial advisor Ian Thow who conned investors of more than $8 million has been granted parole after serving just two and a half years of his nine-year prison sentence.

Patrick Storey of the Parole Board of Canada said Thow is being released from custody because he is not considered a threat to commit violence.

Thow was denied parole in January, but a supreme court ruling that accelerates parole for first-time, non-violent offenders allowed him to be released after serving a sixth of his sentence. Although the ruling was abolished last year, it was applied to Thow’s case retroactively because he was sentenced in 2010.

Am I the only one that sees this and is disgusted. I know our prison system had budget problems but for someone that committed a crime against many people (defrauded several people of their savings), should have served more time.

For him to be released he needs to:

  • report to his parole officer
  • report intimate relationships
  • gaining employment
  • and see a psychologist.

Seriously! We need stiffer penalties for investor fraud – how many hours did the people he defrauded need to work to earn that money that he invested.

Am I overreacting or did the punishment fit the crime?

With the growing number of people with criminology degrees on the rise, we should be able to prevent more of this happening as well!

3 thoughts on “Why does crime pay in Canada? A look at investor fraud”

  1. It costs quite a bit of money to keep someone incarcerated and I would much rather have that money spent on a violent offender than a fraudster.

Leave a Reply

Your email address will not be published.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

CommentLuv badge