Police vehicle outside the home of Barry and Honey Sherman
Police vehicle outside the home of Barry and Honey ShermanReuters

Canadian Jewish philanthropists Barry and Honey Sherman were victims of a double homicide when their bodies were found last month in their Toronto home, police confirmed on Friday, according to The Globe and Mail.

There are no suspects, police said.

"I believe that they were targeted," homicide Detective Sergeant Susan Gomes, the lead investigator, told reporters Friday.

"I believe that in the six-week of review of the evidence we collected that they were targeted," said Gomes, who confirmed earlier media reports that that the bodies of the billionaire and his wife, Honey, were found in the pool basement of their Toronto house.

She said the two were clothed and "in a semi-seated position," hanging from belts tied to a railing.

There was no sign of forced entry, the detective said, adding investigators have collected 1,500 hours of surveillance videos.

Police had previously said both died of “ligature neck compression,” but have released few other details about the investigation, other than the fact that they considered their deaths “suspicious”.

The Shermans' four children have hired retired homicide detectives to conduct their own probe into their parents' death.

In a statement, the family said it had anticipated the conclusion that it was a double homicide.

"This conclusion was expressed by the family from the outset and is consistent with the findings of the independent autopsy and investigation," said the statement released shortly after Friday's police media update.

Barry Sherman founded Toronto-based Apotex Inc. in 1974 with two employees and gradually turned it into a generic drug giant. Along the way he amassed a vast fortune, recently estimated by Canadian Business magazine at $4.77 billion.

Honey Sherman was a member of the board of the Baycrest Foundation and the York University Foundation. She also served on the boards of Mount Sinai’s Women’s Auxiliary, the Simon Wiesenthal Center and the International American Joint Distribution Committee.

The couple was among Canada’s most generous philanthropists and also organized funding of charitable causes through the Apotex Foundation.

(Arutz Sheva’s North American desk is keeping you updated until the start of Shabbat in New York. The time posted automatically on all Arutz Sheva articles, however, is Israeli time.)