www.brantfl orist.com/ob905.639.7001www.dentistoakville.com905-842-6030HALTONTRANSMISSIONwww.carstaroakville.com547 Trafalgar Rd.905-845-7579559 SPEERS ROAD, UNIT #3 2212 Wyecroft Rd.SNA NEWSPAPER OF THE YEAR 2010ONTPg. 10ARIOS TOP NEWSPAPER - 2005-2008Carrier News(905)842-0725905-847-2595A member of Metroland Media Group Ltd. Vol. 49 No. 26USING32 Pages $1.00(plus tax) COMMUNICATION TO BUILD BETTER COMMUNITIESTHURSDAY, MARCH 3, 2011Eighth LineCan't wait for springPonzi schemespeed bumpsduped dentiststo be bumpedOSC alleges Oakvile manBy David LeaOAKVILLE BEAVER STAFFlinked to investment fraudThe Towns experiment of using By Emily Mathieu and Brett Popplewellspeed cushions along Eighth Line TORONTO STARand Postmaster Drive to curb speeding motorists appears to be Dr. Joseph Radice had every reason to believe hisover.money was in good hands. The Woodbridge dentistWhile the speed cushions did had invested $617,000 of hard earned savings with aencourage motorists to slow down dental colleague he believed was a financial whiz whoalong these roads, the side effects had made a killing on the New York and Toronto stockfrom the experiment were deemed exchanges.unacceptable by Town staff and Today, Radicecouncillors.alleges he is one of atOn Tuesday, Oakvilles least 50 investors Community Services Committee many of them prom-recommended against the use of inent dentists speed cushions on arterial and looking for $50 mil-major collector roads following the lion in lost funds. Indismal results of the recent pilot allegations filed inproject.court Radice accusesAt the direction of council, former colleagueTown staff installed speed cush-Peter Sbaraglia andions along Eighth Line and wife Mandy, of Peter SbaragliaPostmaster Drive in June 2010 Oakville, both den-to study their ability to curb tists, of being key speeding in the area.cogs in a sophisticated Ponzi scheme.The project cost around What Radice and investors did not know was that$75,000.the Ontario Securities Commission (OSC) was active-In a report to the committee, ly investigating the scheme, even as they were beingOakville Traffic Technologist Adam reassured that their money was safe and earning vastBell said the cushions did succeed returns.in reducing vehicle speeds in the If they are a protective government agency then,vicinity of the cushions.hey, (the OSC) should have stepped up, Radice said inThe pilot project listed vehicle an interview. What safeguards are in place to protectspeeds on Eighth Line dropping investors from unscrupulous people?by up to 41 per cent while vehicle Radice believes the OSC should have acted tospeeds on Postmaster Drive freeze bank accounts and protect investor assets backdropped by up to 44 per cent.in 2008.ERIC RIEHL / OAKVILLE BEAVER The problem came from people The scheme exploded a year ago when its kingpin,SOMETHING IN THE AIR: Mike Morris took advantage of the warmer weather and sunny circumventing the cushions by Robert Mander, killed himself in his FlamboroughSee Speed page 5See Oakville page 3blue skies on Tuesday to go skateboarding at Shell Park. A POSITIVELY DIFFERENT RAE YLEDSALES EXPERIENCE & O M0102ONE OF THE BEST !TUODEALS IN THE GTA!WOLBQEW + 3rd Line 1501 North Service Rd. W. 905.827.4242WWW.QEWMAZDA.COM