TORONTO – The 37-year-old Toronto investment firm employee charged in connection with the “Exchange Bandit” series of bank robberies waved and smiled at friends during his first court appearance Saturday morning.
Kevin John Pinto was charged with 10 counts of robbery after surrendering to Toronto police Friday, a day after the Canadian Bankers Association issued a bounty of $10,000 for the capture of the so-called “Exchange Bandit” said to be behind 26 bank robberies across southern Ontario since 2003.
Pinto’s bail hearing was put over to Monday by the court. More charges from other regions are expected, reports said.
Paradigm Capital released a statement Friday announcing they had suspended Pinto’s employment with the firm, where he worked as a compliance officer.
“Paradigm is in the process of alerting relevant regulatory authorities. Paradigm has initiated an internal investigation, but has no reason to believe that any of its records, securities or clients’ funds have been compromised,” said the company in the statement posted on their website.
Paradigm has offices in Toronto and Calgary.
Toronto police believe the heists began in the Toronto and Peel regions in 2003 and continued in 2004 before a pause in 2005 and 2006. Robberies committed by a suspect matching the description of the culprit in the earlier incidents began in March 2007 in Toronto, Cambridge and Oakville.
The latest robbery occurred in Toronto on Sept. 12.
– with files from Global National.
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