Niagara financier Peter Corbire arrested for fraud charges

Niagara financier PeterCorbire has been arrested by provincial police on fraud and theft charges.

A CBC investigation revealed at least ninebusiness owners and entrepreneursfrom across Ontariowho gaveCorbiretens of thousands of dollars each, based on offers to provide them loans they needed to grow their businesses.But they say the money he promised never materialized.

Huron County OPP sayCorbireis charged with fraud over $5,000, theft over $5,000 andfalse pretences over $5,000. He appeared in a Goderich courtroom Wednesday and was released on bail, with a number of conditions.

Clinton, Ont.farmer Don Nott was one of the people profiled in that CBC series. He filed a complaint with the OPP and said he was recently advised by investigators thatcharges were coming against Corbiere,

Nottsays he paidCorbirea fee of$38,000 for a loan three years ago.

Nottwas looking for financial help to convert his farm operations into a recycling company for hay bale plastic. The loan money never came through, and Corbire's promise of a refunded deposit in such a case has gone unfulfilled.

"There's never good news when you lose money. We just got to the point where we said 'Enough is enough. This guy just keeps going onand nobody's doing nothingabout it," said Nott when reached by phone.

Farmer Don Nott: 'I realize ... I've been duped'

7 years ago

Duration 0:44

Don Nott tells the CBC's Stephanie Matteis about the $38,000 he gave Peter Corbire in exchange for a loan to grow his agriculture waste-recycling business.

TheCBC investigation showed cases withsimilar patterns:

After the entrepreneurs cut Corbire a cheque, something always comes up.

They would follow up, call or text him. He says their money is imminent. Eventually they give up on seeingthe funds as the business opportunity passes. They start to work onat leastgetting their deposits refunded.

Even as their faith wanes,they still text him and he almost always texts them back.Mosthave been waiting months, even years, without seeing their money back.

I'm really pleased to find him behind bars.- Ty Shattuck

None of the allegations made againstCorbirehave been proven in court.

Corbiretold CBC News in a 2017interview thathe's never refused to refund anyone.

"Just because somebody doesn't get funding doesn't mean that they were ripped off," he said."It means there's a reason that they're not getting their funding."

Corbire was initially arrested in Toronto on April11 for failure to appear at small claims court in Waterloo, but a spokesperson for the OPP in Huron County confirmed he was taken into their custody Tuesday.

Veteran Burlingtonbusinessman Ty Shattucksaid he has also filed a police report allegingCorbire owes himnearly $15,000 after a $7 million loannever came through.

"I'm really pleased to find him behind bars," said Shattuck.

Financier ordered to surrender passport

Corbire'sbail wasset at $4,000.

Hewas released without a deposit and without a surety, but his bail conditions include surrendering his passport and reporting to Niagara Regional Police every Sunday.

The 61-year-old appeared in courtwith thick stubble and wearing a tan trench coat over a suit jacket and shirt.

He didn't speak except to say "yes" and "Yes your honour" when asked if he understood his bail conditions.

"I have nothing to say. I have no comment," he said when approached outside of court, before heading back into the building.