The Shermans donated millions, notably to hospitals and universities. The violent deaths of one of Canada’s richest couples-their net worth has been estimated at $4.6 billion but is believed to be much higher-rocked the intersecting worlds of business, politics and philanthropy. It is now almost four months since the bodies of 75-year-old Sherman and his 70-year-old wife, Honey, were found inside their Toronto house in a horrific, staged tableau: seated side-by-side on the deck of their basement swimming pool, hanging from belts tied to a railing. He was a billionaire driven to litigation less by money than something more primal: a sense of righteous certitude that propelled him to prevail at any cost. He’d generously bail out someone in need-but often with a longer, self-interested view. A hard-nosed strategic genius who built Canada’s largest pharmaceutical company, Sherman also conducted business with known criminals. That long-ago tale, excavated from thousands of pages of court documents, corporate records and charity filings reviewed by Maclean’s, reveals the paradoxes of a man whose brutal death is now being investigated by police. court to eventually recoup what, for him, was essentially pocket change. But when another creditor stepped forward to claim rights to the remaining $50,000, Sherman spent the next four years fighting in U.S. After Rubenstein pleaded guilty, Sherman agreed to loan him half of the $100,000 bail money so he could pay restitution to his victims.
“I couldn’t see any benefit, from my viewpoint, of having him languish in jail,” Sherman later testified in a sworn deposition. He told Sherman if he weren’t behind bars, he could focus his efforts on recovering his lost money. Now the disgraced broker, recently extradited to the United States to face another slew of fraud charges, was asking for even more of Sherman’s money: US$100,000 so he could post bail. Mere weeks before taking that call, Sherman had launched a lawsuit against Rubenstein, his former investment adviser, claiming he’d been duped out of millions. Though Rubenstein’s financial scams garnered plenty of headlines, few people had any idea his victims included the founder of Canadian generic drug giant Apotex Inc.
On the other end was a familiar voice: that of Harvey Rubenstein, a notorious Toronto stockbroker convicted of fraud on both sides of the border. Past events included cryptocurrency/blockchain, real estate, artificial intelligence, healthcare, emerging markets, digital marketing and many others.In the summer of 1988, Barry Sherman received an urgent phone call-from a prison in Oregon.
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