The accused was charged with fraud over $5,000 after borrowing over $1.5 million from various acquaintances, ostensibly for short-term mortgage loans, and subsequently declaring bankruptcy.
The Crown alleged the accused deceived the lenders and gambled the funds away.
The Superior Court of Justice acquitted the accused, finding that while he likely took advantage of the lenders and had a gambling problem, the Crown failed to prove beyond a reasonable doubt that the specific funds borrowed were gambled away or used for purposes other than what was represented.
