A man who swindled a Texas-based mutual fund out of $22.1 million in the mid-1980s has been sentenced by a Canadian court to seven years in prison and has been ordered to repay his victim $2 million, the Toronto Globe and Mail reported Saturday.

Edward Carter, 65, was convicted last month of stock manipulation in connection with Tye Explorations Inc., and of paying secret commissions to the manager of the Texas mutual fund.Judge Stephen Borins of the Ontario Court made the compensation award late Friday to the United Services Fund of San Antonio to prevent Carter from benefiting from his crime, the newspaper said.

Lawyers for Carter said they plan to appeal the conviction and the sentencing.