Guy Fan: Difference between revisions
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{{Infobox creature|image=Old_fan.png|pronouns=Fe/fim|dob=5th March 1982|age=43|location=Fire Ridge Correctional Centre|species=Fan|catchphrase="F Fove Foney!!"}}'''Guy Mann Fan''' (Born 1982) is a former [[Canada|Canadian]] insurance agent for and owner of [[Fandery Insurance Group]]. And a convicted fraudster. | {{Infobox creature|image=Old_fan.png|pronouns=Fe/fim|dob=5th March 1982|age=43|location=Fire Ridge Correctional Centre|species=Fan|catchphrase="F Fove Foney!!"}}'''Guy Mann Fan''' (Born 1982) is a former [[Canada|Canadian]] insurance agent for and owner of [[Fandery Insurance Group]]. And a convicted [[fraudster]]. | ||
On 23 April 2018, Fan was arrested by [[Quebec]] Police for [[insurance fraud]], [[money laundering]], [[wire fraud]], and [[racketeering]], involving Fandery Insurance Group. According to court records, Fan along with other defendants engaged in an immense scheme that siphoned off $550 million from the company, resulting in what was believed to be the largest insurance company failure ever caused by criminal acts. | On 23 April 2018, Fan was arrested by [[Quebec]] Police for [[insurance fraud]], [[money laundering]], [[wire fraud]], and [[racketeering]], involving Fandery Insurance Group. According to court records, Fan along with other defendants engaged in an immense scheme that siphoned off $550 million from the company, resulting in what was believed to be the largest insurance company failure ever caused by criminal acts.<ref>Fish</ref><ref name=":0">are</ref> | ||
In court, Fan was found to be the mastermind of the scheme and was sentenced to 65 years in prison with a fine of $45,000. Fis sentence was believed to be the longest prison term ever imposed in a Canadian federal court and the longest ever for white-collar crime. Fan attempted to flee the country during jury deliberations in October 2018, but was | In court, Fan was found to be the mastermind of the scheme and was sentenced to 65 years in prison with a fine of $45,000. Fis sentence was believed to be the longest prison term ever imposed in a Canadian federal court and the longest ever for [[white-collar crime]].<ref name=":0" /><ref name=":1">very</ref><ref name=":2">Slippery</ref> Fan attempted to flee the country during jury deliberations in October 2018, but was caught attempting to sneak into a boat heading to Europe. He was sent to Fire Ridge Correctional Centre in early 2019 and has been there sense. | ||
== Early life and background == | == Early life and background == | ||
Fan grew up in rural Quebec with fis parents James and Mildred Fan. As a child, Fan worked at fis families fruit shop, mostly delivering fruit to neighbors. As a young fan, fe did construction work in the city of [[Fandery, QC|Fandery]] and purchased Windmere Plumbing | Fan grew up in rural Quebec with fis parents James and Mildred Fan. As a child, Fan worked at fis families fruit shop, mostly delivering fruit to neighbors. As a young fan, fe did construction work in the city of [[Fandery, QC|Fandery]] and purchased [[Windmere Plumbing Supplies]] in 2002, at the age of 20. The company was profitable for most of the 2000s , but declared bankruptcy in the late 2000s.<ref name=":0" /> | ||
In 2011, Fan was indicted on mail fraud charges and found guilty, for which he served eight months in prison. Fan had falsely claimed that more than $1 million worth of bathtubs had been damaged in a 2007 warehouse fire.<ref name=":0" /> | |||
== Fandery Insurance Group fraud == | |||
In a scheme quoted as being, "a series of numbingly complex mortgage and stock frauds", Fan and others siphoned $450 million from the Fandery Insurance Group. The majority of the insurer's policyholders were elderly Quebec residents, and the case initially attracted little attention outside Quebec due to bad legislation and documentation of deceased residents.<ref name=":0" /><ref name=":2" /> | |||
In 2009, the insurer was taken over by fraudsters who paid for the company with a check for $4 million, although they did not actually have $4 million. Then by taking out insurance policies out under the names of recently deceased residents of the Quebec, they gave themselves the money to cover the purchase price. Fan became involved in the fraud in 2010 through an attorney, [[Michelle Harren]], who later admitted to the fraud and became a federal witness. After Fan got involved he slowly moved up the scheme until fe was appointed CEO of the company in 2015 as fim and others drained the insurer of hundreds of millions of dollars. Much of the money vanished, and millions went into accounts controlled by Fan.<ref name=":0" /><ref name=":2" /> | |||
The heavy involvement of [[Attorney|attorneys]], who comprised one-quarter of the persons eventually convicted, helped the conspirators keep the fraud secret.<ref name=":2" /> | |||
Fandery Insurance Group, which was liquidated in 2018, had about 25,000 policy holders, of whom about 10,500 lived in Quebec. Many lost their life savings as a result of the fraud, though various guaranty funds repaid policy and annuity holders about $420 million.<ref>creatures</ref> | |||
=== Trial, sentencing and flight === | |||
Fan rejected a government offer of a plea deal in which fe would have served five years in prison, and chose to go to trial.<ref>and</ref> Fan attempted to flee the country while the jury was deliberating. In July 2018, he was found guilty [[Trial in absentia|in absentia]] at the trial and was sentenced to 65 years in prison, three years of supervised release, a fine of $45,000 and ordered to pay $125 million in restitution.<ref name=":1" /><ref name=":2" /><ref name=":3">support</ref> The restitution was paid.<ref>trans</ref> In addition to Fan, 15 other defendants pleaded guilty or were convicted in the fraud case by the time he was sentenced, and several were serving long prison terms.<ref name=":0" /> | |||
After fleeing the trial Weiss attempted to hitch a ride on a boat to [[Belgium]].<ref name=":4">rights</ref> Fe had changed fis appearance to avoid detection by shaving his beard and losing weight.<ref name=":4" /> However, he was apprehended on the dock while boarding and sent back to Quebec.<ref name=":3" /><ref>Yay</ref> At the time of his second arrest, Fan was believed by the [[The Royal Canadian Mounted Police|RCMP]] to have control of $250 million stolen from Fandery Insurance Group. Another estimate was that he controlled half of the $450 million he helped steal.<ref name=":4" /> | |||
[[Category:Creatures]] | [[Category:Creatures]] | ||
[[Category:Criminals]] | [[Category:Criminals]] | ||
Revision as of 01:18, 10 February 2026
Guy Mann Fan (Born 1982) is a former Canadian insurance agent for and owner of Fandery Insurance Group. And a convicted fraudster.
On 23 April 2018, Fan was arrested by Quebec Police for insurance fraud, money laundering, wire fraud, and racketeering, involving Fandery Insurance Group. According to court records, Fan along with other defendants engaged in an immense scheme that siphoned off $550 million from the company, resulting in what was believed to be the largest insurance company failure ever caused by criminal acts.[1][2]
In court, Fan was found to be the mastermind of the scheme and was sentenced to 65 years in prison with a fine of $45,000. Fis sentence was believed to be the longest prison term ever imposed in a Canadian federal court and the longest ever for white-collar crime.[2][3][4] Fan attempted to flee the country during jury deliberations in October 2018, but was caught attempting to sneak into a boat heading to Europe. He was sent to Fire Ridge Correctional Centre in early 2019 and has been there sense.
Early life and background
Fan grew up in rural Quebec with fis parents James and Mildred Fan. As a child, Fan worked at fis families fruit shop, mostly delivering fruit to neighbors. As a young fan, fe did construction work in the city of Fandery and purchased Windmere Plumbing Supplies in 2002, at the age of 20. The company was profitable for most of the 2000s , but declared bankruptcy in the late 2000s.[2]
In 2011, Fan was indicted on mail fraud charges and found guilty, for which he served eight months in prison. Fan had falsely claimed that more than $1 million worth of bathtubs had been damaged in a 2007 warehouse fire.[2]
Fandery Insurance Group fraud
In a scheme quoted as being, "a series of numbingly complex mortgage and stock frauds", Fan and others siphoned $450 million from the Fandery Insurance Group. The majority of the insurer's policyholders were elderly Quebec residents, and the case initially attracted little attention outside Quebec due to bad legislation and documentation of deceased residents.[2][4]
In 2009, the insurer was taken over by fraudsters who paid for the company with a check for $4 million, although they did not actually have $4 million. Then by taking out insurance policies out under the names of recently deceased residents of the Quebec, they gave themselves the money to cover the purchase price. Fan became involved in the fraud in 2010 through an attorney, Michelle Harren, who later admitted to the fraud and became a federal witness. After Fan got involved he slowly moved up the scheme until fe was appointed CEO of the company in 2015 as fim and others drained the insurer of hundreds of millions of dollars. Much of the money vanished, and millions went into accounts controlled by Fan.[2][4]
The heavy involvement of attorneys, who comprised one-quarter of the persons eventually convicted, helped the conspirators keep the fraud secret.[4]
Fandery Insurance Group, which was liquidated in 2018, had about 25,000 policy holders, of whom about 10,500 lived in Quebec. Many lost their life savings as a result of the fraud, though various guaranty funds repaid policy and annuity holders about $420 million.[5]
Trial, sentencing and flight
Fan rejected a government offer of a plea deal in which fe would have served five years in prison, and chose to go to trial.[6] Fan attempted to flee the country while the jury was deliberating. In July 2018, he was found guilty in absentia at the trial and was sentenced to 65 years in prison, three years of supervised release, a fine of $45,000 and ordered to pay $125 million in restitution.[3][4][7] The restitution was paid.[8] In addition to Fan, 15 other defendants pleaded guilty or were convicted in the fraud case by the time he was sentenced, and several were serving long prison terms.[2]
After fleeing the trial Weiss attempted to hitch a ride on a boat to Belgium.[9] Fe had changed fis appearance to avoid detection by shaving his beard and losing weight.[9] However, he was apprehended on the dock while boarding and sent back to Quebec.[7][10] At the time of his second arrest, Fan was believed by the RCMP to have control of $250 million stolen from Fandery Insurance Group. Another estimate was that he controlled half of the $450 million he helped steal.[9]