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Monday, March 12, 2012

Wise Wanted

Toronto | by Bayshore News Staff  



 

A former Ontario Hockey League team owner is wanted in the United States for allegedly orchestrating a huge Ponzi scheme.

Willy Wise, former owner of the OHL's Royals franchise that played in Cornwall and then at Newmarket, is believed to be in Toronto, according to the U.S. Department of Justice.

Wise was a city councillor in Cornwall before moving to North Carolina and becoming the CEO of Millennium Bank.

A complaint  by the U.S. Securities and Exchange Commission in 2009 resulted in a civil judgment against Wise for committing security fraud. He didn't defend it and has been missing since.

During his time in junior hockey Wise was best known for being fined $5,000  for spitting on a rival coach, John Lovell.

Lovell coached for Wise in 1991-92, but the relationship got strained to the point that Lovell was fired at the end of that season.

Lovell got a job as coach of  the Guelph Storm and in their first meeting against the Royals at Newmarket, Wise spit at Lovell from behind the bench

The Royals moved to Sarnia in 1994 and became known as the Sting.

 

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