Quintin Sponagle back in Nova Scotia, charged in Ponzi scheme

A man accused of defrauding more than $4 million from 179 investors in an alleged Ponzi schemewill remain in a Nova Scotia jail until at least Tuesday following his extradition earlier this week from Panama.

QuintinEarl Sponagle, former head of Jabez Financial Services, fled to Panama while he was being investigated forfraud over $5,000 andtheft over $5,000.

His wife said Friday that her husband is innocent and added,"We're thanking God for his innocence." Police, however, allege Sponagle left a trail of victims stung by significant financial losses.

"There werea lot ofpeople in Nova Scotia that lost their life savings that were very hard done by this,"RCMP Insp. Glenn Lambesaid in an interview.

Canada sought Sponagle's extradition andhe was arrested in April 2013 by Panamanian authorities. After exhausting several appeals,Sponagle was finally brought back to Canada.

It is our policy and our belief in the RCMP that if you commit a criminal act against citizens of Canadathen we will search for you wherever you go," Lambe said.

Earlier this week RCMP officers with Nova Scotia'sfederal serious and organized crime unit travelled to Panama and escorted Sponagle back to the province.

Heappeared in Windsor provincial court on Friday and remains in custody. He will return to court Dec. 2 for what is expected to be a lengthy bail hearing.

"My husband is innocent and were thanking God for his innocence,"his wife, Shelley Sponagle, said outside the courtroom.

"The word of God says that all things are working together for our good because we love God and we're called according to his purposes."

Jabez Financialwas shut down after complaints from investors, many of whom were recruited from Rock Church in Lower Sackville and other congregations.

A 2011 securities commission heard thatinvestors couldn't resist the promise of turning $10,000 into $1 million in less than four years.They liquidated their RRSPs and even a child's inheritance.

Sponagle used theirmoneylike it was his own personal bank account,the commission heard.