A Paraguayan lawyer has formally accused senior Ontario judges of participating in what he describes as a massive judicial fraud involving the state-owned Itaipu Binacional Pension Fund (Cajubi) and more than C$20.8 million in disputed investment losses. The complaint, filed on May 11, 2026, by attorney Julio Benítez on behalf of Eduardo García, alleges that members of the Ontario Superior Court and Court of Appeal for Ontario enabled false judgments, suppressed banking evidence, and protected key financial actors linked to millions of dollars allegedly diverted through Swiss and Canadian accounts.
The complaint, addressed to Robin MacKay of the Canadian Judicial Council, specifically names Justices Sean F. Dunphy and Peter J. Oborne of the Ontario Superior Court and Justice David Paciocco of the Court of Appeal for Ontario. According to Benítez, the original Ontario trial judgment issued in 2018 was “corrupt, unenforceable, and null,” and has been used to wrongly portray García as responsible for the alleged disappearance of the funds, despite the absence of direct bank records proving he received or embezzled the money.
“The judges continue demanding an accounting of money they themselves have helped conceal,” said Benítez. “This is not justice—it is a cover-up.” The complaint references repeated contempt proceedings led by Justice Osborne, alleging that the court has avoided ordering the disclosure of the very bank records necessary to establish where the funds actually went. Benítez argues that key evidence points instead to Swiss accounts controlled by Cajubi’s former investment consultant Ronald Timcke and other individuals whose financial records were never properly pursued.
The case, widely described in Paraguay as the “heist of the century,” has had significant consequences for pension fund members and Paraguayan taxpayers, including major pension restructuring and projected long-term costs of hundreds of millions of dollars. The court rulings were also used to silence García through repeated contempt proceedings and restrictions on public statements.
Benítez also announced that a parallel complaint will be filed before Paraguay’s new Superintendency of Pensions and Retirement, requesting access to financial documents and an independent investigation into the pension fund actuarial deficit, losses, and the tens of millions of dollars in legal fees paid over the past 15 years. “We believe the truth lies in the bank records that judges and opposing counsel have worked so hard to keep hidden,” Benítez added.
The legal team is calling for transparency, judicial accountability, and full disclosure of the bank records related to the disputed funds. The complaint is associated with Ontario case file CV-11-00009210-CL.
