A convicted fraud artist was shackled in leg irons in court Friday as a judge sent him to prison for ripping off a Kelowna family for about $250,000.
They gave the money to Raymond Patrick Shaw after responding to an advertisement for an investment opportunity promising quick and significant returns.
Instead, the 49-year-old spent the money on himself.
“I no longer have a business, I no longer have a family or a marriage. Any money I would have had for retirement is gone so I’m starting over at 50,” says one of the cheated investors who didn’t want to be identified.
Earlier convicted by a jury of fraud and theft over $5000, Shaw was sentenced to four years imprisonment and ordered to pay back his victims.
In court, Shaw expressed remorse but the judge was skeptical.
“It’s hard to reconcile those statements with his unwillingness to accept that he’s done anything wrong…he knew his use of the funds was not legitimate,” said Mr. Justice Allan Betton.
When Shaw was stealing from people in Kelowna, he was on probation after being convicted for his role in a fraudulent investment scheme out of Victoria where the victims lost almost $2 million.
Shaw was sentenced to two years of house arrest in that case.
Ralph Bartholomew Kelly was also convicted for the Kelowna fraud and theft.
He’ll be sentenced at a later date.
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