CJOB News Team reporting
A former Winnipeg financial planner has pleaded guilty to 20 counts of fraud in a case involving $6.5 million taken from 20 investors.
In one case, Court heard 52-year-old Jack Wladyka defrauded an 82-year old woman of $3.4 million. The funds were supposed to be put into a GIC at Steinbach Credit Union.
Wladyka deposited the money into his own account to pay off his personal debts and invested some of it himself.
He was charged in March 2007 after the elderly woman called Steinbach Credit Union inquiring about her investment and was told there was no such account.
Wladyka was a certified investor and manager of Dundee Wealth Management in Winnipeg but would deposit the funds into an account under Jack Wladyka trading as Dundee private investors.
Both the Crown and Defense are asking for a 10-year prison sentence.
Wladyka is free on bail until his sentencing.