OSC v. Daniel P. Reeve (ponzi schemes, 2018)

Judgment entered

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In September 2018 the Ontario Securities Commission began a reciprocal proceeding against Daniel Reeve, found guilty after trial of defrauding at least 41 victims of about $10 million through several Ponzi schemes, and on November 26, 2018 imposed permanent market bans.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

Reeve, a Kitchener financial planner, was found guilty of fraud after a trial lasting almost two years. The findings the commission relies on say investors' money went to shareholder loans to Reeve and his former wife, to expenses of his failing companies and to repayments to other investors in a Ponzi-like distribution, with losses of about $10 million.

The order of November 26, 2018 bans him permanently from trading, acquiring securities, relying on exemptions, serving as director or officer, and acting as a registrant or promoter. The record showed the matter only as filed.

This library tags the matter as ponzi schemes because the tribunal or the court it relies on describes money from later investors being used to pay earlier ones. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Ponzi schemes — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2018-09-24 Statement of Allegations
2. 2018-09-26 Notice of Hearing
3. 2018-11-26 Reasons and Decision
4. 2018-11-26 Reasons and Decision

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• Tribunal proceeding
• Statement of Allegations
• Notice of Hearing
• Reasons and Decision
• Reasons and Decision

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.