Waterloo man sentenced to two years in fraud scheme
A Waterloo man has been sentenced after a multi-million dollar defrauding scheme that stretched across North America.
Constantinos Mathios has been handed a two-year sentence and ordered to pay restitution by a judge.
“It was a joint submission for a two-year penitentiary sentence and the judge acceded to our joint submission,” said criminal defence lawyer, Aitan Lerner, in an e-mail statement to 570 NEWS.
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Waterloo Regional Police originally started investigating after receiving complaints about a Waterloo-based investment firm going back to 2006.
The 55-year-old managed to get almost $2.2 million from 16 people in the end, alleging that it would be used as an investment in a gold mining company.
Most of those 16 people were in Waterloo Region with investments ranging from $8,000 to $1-million per person.
