Justice on hold in alleged Mount Real fraud
Former investors with the Mount Real Corporation will have to wait at least another year before the trial of their suspected defrauder resumes after this summer's break - that'll be nine years since the case began.
"It's just unbelievable," said Janet Watson, who is among 1600 alleged victims claiming to have been ripped off by ex-Mount Real CEO Lino Matteo to the tune of $130-million in a suspected Ponzi scheme between 1996 and 2005.
She said it's unacceptable Matteo's trial on more than 300 charges of breaching Quebec's securities laws is delayed until at least next summer or fall.
Matteo's lawyer is now busy with a murder trial and then Matteo himself will have to face another fraud trial starting in January.
Watson said she and others just want some closure.
"People are trying to get on with their lives, people are trying to put this behind them. But people who have lost everything and have had to go back to work are reminded daily of their loss. Many, many of them say there's not a day they don't wake up and think about this and think about what's been done to them," Watson said.
Watson and about five hundred alleged victims are rallying and firing off letters to Quebec's justice minister asking he intervene to speed things up.
"I don't have much faith in our system anymore," Watson said.
"The system seems to be geared for the perpetrators and not for the victims."