Bank heist accused is investment firm VP

GTA - Bank heist accused is investment firm VP


PHOTO SUPPLIED
Wanted man is believed 28 to 35 years old, solidly built and wears prescription glasses.
'Shocked' company launches probe of client accounts October 05, 2008 Nick AvelingStaff Reporter

A man who policed the day-to-day operations of a financial institution has been accused of being one of the country's most prolific bank robbers, known as the Exchange Bandit.

Kevin John Pinto, the 37-year-old vice-president of compliance at a Toronto investment firm, turned himself in Friday after the Canadian Bankers Association posted a $10,000 reward for his capture. He has been charged with 10 counts of robbery.

Pinto was one of two compliance staff at Paradigm Capital, an investment firm with offices in Toronto and Calgary. He was responsible for providing oversight and ensuring the firm's trading activities complied with regulatory requirements. Although compliance officers sometimes have legal backgrounds, Pinto does not, said company CEO David Roland.

Pinto had previously worked for National Bank.
"We're obviously extremely shocked," said Roland. "This is just an extremely unfortunate thing."

Paradigm Capital released a statement on its website Friday afternoon announcing that Pinto had been suspended and his case had been passed on to "relevant regulatory authorities."

Roland said Paradigm has also launched its own investigation. "We have no reason whatsoever to believe that any of our records, securities or client funds have in any way been compromised," said Roland. "We'll focus the investigation to make sure there's absolutely no chance that has happened."

A suspect had been wanted for at least 21 robberies – in Toronto, Peel, Kitchener, St. Catharines and Niagara Falls – dating to 2003.

The "Exchange Bandit's" most recent heist took place Sept. 12 at a Scotiabank on King St. W., just minutes from Paradigm's offices.

The suspect was given the nickname for his habit of exchanging words with a teller before producing a holdup note and warning that he was armed.

Pinto appeared briefly in court at Old City Hall yesterday morning. His bail hearing was moved to tomorrow. Police expect more charges from other regions.