'Scam with absolutely no value': Woman sentenced to seven years after massive fraud trial
Published Friday, August 16, 2019 4:35PM CST
Last Updated Friday, August 16, 2019 6:38PM CST
Alena Pastuch will serve the next seven years in prison after being sentenced Friday at Regina Court of Queen’s Bench, following one of the largest fraud cases in Saskatchewan’s history.
The 54-year-old Regina woman appeared via video for the sentencing hearing and received a total sentence of seven years and three months, less three months credit for time served in remand.
Pastuch was found guilty of one count of fraud exceeding $5,000 in June following an investment fraud that stole $5,523,507 from investors.
Pastuch was also ordered to pay restitution to all the victims of the fraud. She will have 12 years following her release to repay this amount or be subject to another five years in prison.
Many victims stated in impact statements they didn’t expect to ever see the money again and talked about the toll it took on their lives.
One couple lost $1.26 million, and said it’s taken several years to get over the shock of the fraud.
“When we sold the farm, we had so many exciting plans for the next chapter of our life,” the couple’s statement reads. “We planned to travel, help our children and grandchildren, do some charity work and just enjoy the life we had worked hard for 35 years to establish. Unfortunately, we met Alena Pastuch and we foolishly ‘invested’ our hard earned money in what we now know was a scam with absolutely no value.”
Pastuch requested to serve her sentence in a healing lodge, but the judge recommended she be sent to the Regional Psychiatric Centre in Saskatoon due to mental and health challenges.