Joan McCarthy, 54, must also pay restitution for the sums she took, which she did by forging signatures on checks. BREAKING || The former financial advisor of St. John’s Joan McCarthy was sentenced to two years in prison for stealing more than $700,000 from doctor clients. He must also pay restitution for amounts obtained by forging checks. @VOCMNEWS — Brian Callahan (@briancallahan67) July 6, 2022 McCarthy was an account manager at the St. John’s of MD Management, which deals in financial planning for doctors, when he stole the money over a 13-year period between 2006 and 2019. She had already been fined more than a million dollars by the federal regulator and permanently banned from doing business again. McCarthy, who is married with two grown children, is also facing a civil lawsuit from Royal Bank, where she deposited 161 fraudulent cheques. The two-year sentence – a joint submission by the Crown and the defense – is on the low end for such offences. However, Judge James Walsh took into account that McCarthy had pleaded guilty at the first opportunity and accepted full responsibility for what she had done, adding that the rehabilitation order made the sentence appropriate. McCarthy appeared in court today in a suitcase awaiting a jail sentence and was remanded in custody for the first time since the criminal charges were first laid last year. She apologized to her family, colleagues and friends, saying she committed the crimes while she herself was going through difficult emotional and financial times. It is not yet clear where McCarthy will serve her sentence, which will depend on prison officials. He was technically sentenced to two years plus one day, which is a federal sentence, but those have been served in this province before.
