Odd, isn’t it?
For years Willie Wise bathed in the high life using other people’s money.
Today, he is living the low life on other people’s money.
Willie has taken up residence in a tax-funded U.S. federal prison after being (finally) sentenced to 21 years for his role in swindling hundreds of investors, some out of their retirement savings, in a Ponzi scheme that he ran through a bogus bank.
He has exchanged his tailored business suits for a one-size fits all orange prison jump suit with a number affixed above the right breast pocket. He’ll earn around 50 cents a day performing mindless prison duties. One of the prison destinations mentioned was the same medium security prison that houses Ponzi king Bernie Madoff. Could be some interesting conversations.
With time already served, The Wise Guy is looking at 19 years, albeit given the non-violent nature of the crime he won’t be working the rock pile.
It is one heck of a finish for a guy who lived in a million-dollar home, had his own jet, partied on a Caribbean island, uncorked $1,000 bottles of wine when partying with his pals, some from Cornwall, his hometown, and blessed hot-looking girlfriends with $10,000 a month “gifts”. According to court documents, Willie gave his wife a $12,000 a month allowance, just for putting up with his philandering. He once dispatched his jet and crew to Massena airport to pick up some old Cornwall friends and bring them to a lavish New Year’s Eve party held at his Caribbean digs. Just to show that he was a nice guy, one of Willie’s friends talked him into donating a big chunk of money to the Cornwall Community Hospital. Any record of that “gift” has been quietly expunged by the hospital. Not sure if the money was turned over to U.S. authorities.
And why not play fast and loose. Investigators estimate that Willie’s Ponzi scheme pulled in at least $75 million from investors.
Two years ago, before giving up to U.S. authorities, Wise told a Toronto newspaper that he was broke. That is a lot of spending. Some folks believe that he managed to tuck away some of that money under a mattress.
“I don’t have billions squirrelled away,” he told the Toronto newspaper. “I don’t even have hundreds (tucked away).”
There is speculation that Willie turned himself over to U.S. authorities because he felt safer living in a jail cell than being on the lam, not only from the law but certain people he had bilked.
Willie grew up in Cornwall and by all accounts fit the pampered brat mould like a glove. He came back to his hometown after getting a law degree and set up shop. He got elected to city council (1883-85) and started developing land. Then he bought a piece of the Cornwall Royals hockey club and ended up owning most of it. He moved the team to Newmarket and a year later sold it for $950,000, most of which went to cover the team’s debts. The team is now called the Sarnia Sting. That’s when he headed for Raleigh, N.C. and set up shop.
If Willie were to serve his entire sentence, an unlikely prospect, he would be getting out at age 84.
A well-informed friend said a more likely scenario is that Willie will do four to five years in the U.S. (in addition to the two years he served prior to sentencing) before becoming eligible for a transfer to a Canadian prison and early parole.
By the time he hits the streets in Canada, he would be 70 years old.
If he really didn’t hide any of the Ponzi scheme loot, he will be living on old age security and minimum Canada Pension Plan cheques.
And you can bet that hockey fans in this town won’t be organizing a tag day for him.
TRIVIA Of the 12 aldermen who served on the 1983-85 city council headed by Gerald Parisien, five would become mayoral candidates and two would serve as mayor. Who were they? The members of council were Dick Aubry, Francis Guindon, Ray Lalonde, Terri Lalonde, Angelo Lebano, Aime Leblanc, Guy Leger, Brian Lynch, Earl Myers, Jan Samis, Gerald Samson Sr. and William Wise.
TRIVIA ANSWER The restaurant at Pitt and Second streets with the large overhead sign bearing the image of a harbour-straddling Colossus of Rhodes from Greek mythology was the Colossus Restaurant that operated from 1974-1992. The sign became the victim of an overhead sign bylaw.
THIS AND THAT Cornwall Collegiate grad Martin Caley is ranked as one of the Canada’s top bridge players. … If American Bridge is able to stick to its schedule, the Seaway International Bridge structure and concrete pillars (sans four) will be gone in 2016. It’s removal, along with the concrete piers, will be one of the biggest changes in the city landscape in years.
SPORTS STUFF Since 1998 Ligue Nord-Americane de Hockey (North American Hockey League) has burned through 58 team names. Before they were the Cornwall River Kings, they were the Windsor Lacroix, Windsor Papetiers and Windsor Wild. Before they became Windsor anything they were the Sherbrooke Saint-Francois. A New York Times article (2011) called it the world’s toughest hockey league, noting that it averaged 3.2 fights a game. The NHL average is about 0.6 fights per game. … That coaching change sure made a big different for the River Kings. They haven’t won since.
REAR-VIEW MIRROR The American Grill at 3 Montreal Road which operated from 1954 to 1960. The first Grill became Laplante’s Restaurant around 1939 but reverted back to the Grill in 1954. It was originally called the Cosy Corner Restaurant. … Marie’s Bargain Store at Brennan’s Corners. … The Kingsway Restaurant , 441 Water St. … The Grand Hotel at 440 Water St. Prior to the hotel opening, Adolphus and Rose Miron operated a restaurant at Brennan’s Corners. … The spacious Terminal Snack Bar next to the Cornwallis Hotel. For years it was the Colonial Bus terminal.
