A former Candian Olympic rower has pleaded guilty to fraud, changing his plea in Victoria provincial court Wednesday.

Harold Backer, who had previously pleaded not guilty to two counts of fraud over $5,000, pleaded guilty to one count of fraud over $5,000.

He was been sentenced to 13 months in jail and three years probation for one count of fraud over $5,000. He was given credit for one month already served.

Fifty-five-year-old Backer competed for Canada at the 1984, ’88 and ’92 Olympic Games and was a mutual fund salesman.

He mysteriously disappeared Nov. 3, 2015, after telling his family he was going out for a bike ride but did not turn up again until April 2017 when he surrendered to police.

Financial crime investigators looked into Backer and the company My Financial Backer Corp. after his disappearance following concerning letters received by his investors.

Backer was scheduled to go to trial in September.

CHEK News