Chatham businessman pleads guilty in $1M fraud case
The Chatham-Kent police crest is seen on a uniform in Chatham, Ont. (Chris Campbell / CTV Windsor)
A Chatham businessman who was charged with defrauding nine elderly people of more than $1 million entered a plea today.
Richard Mahon pleaded guilty to one count of fraud over 5,000 and one count of criminal breach of trust in a Chatham courtroom.
The 70-year-old was facing multiple charges of fraud and breach of trust two years ago following a lengthy fraud investigation which began in 2014 after a woman contacted Chatham police.
Investigators discovered the owner of Ric Mahon Financial and Tax Back Ventures was using money given to him as a financial investor for personal use.
Authorities determined it was a practice which started as far back as 2006 and some of the victims were in their nineties.
Mahon will return to court for sentencing submissions in the new year.