Summary of "The Billion Dollar Mystery" – Late Nights with Nexpo
Podcast Overview
"Late Nights with Nexpo," the official podcast of YouTube creator Nexpo produced by Ballen Studios, delves into some of the most bizarre and chilling true stories and mysteries. In the episode titled "The Billion Dollar Mystery," released on March 5, 2025, Nexpo explores the perplexing and high-profile case of billionaire couple Barry and Honey Sherman. This detailed summary captures all the key points, discussions, insights, and conclusions presented in the episode.
1. The Night of the Mystery
Setting the Scene
The episode opens on a cold December night in Toronto, where a massive 12,000 square foot mansion stands ominously dark amidst a heavy snowfall. Barry Sherman, a billionaire and CEO of the generic pharmaceutical company Apotex, is known for his relentless work ethic and insomnia, often communicating with employees during the late hours. However, on Wednesday, December 13, 2017, something unprecedented occurs:
"It's the first time employees recall Barry not messaging in the night" (00:00).
This unusual silence becomes the precursor to a tragedy that would leave both the community and investigators baffled.
2. Discovery of the Fatal Scene
Signs of Distress
Two days later, on Friday, December 15, 2017, the Sherman mansion is listed for sale. The housekeeper arrives unusually early at 8:30 AM and notices several anomalies:
- The morning newspaper still lies outside, a sign the Shermans are not away.
- Honey Sherman's Lexus remains in the driveway, untouched by the recent storm.
- The house's side entrance is locked, contrary to the usual routine.
Attempting to contact Barry or Honey yields no response, prompting the housekeeper to enter the home. She discovers the home security system is disabled—a first in her three-year tenure:
"It's the very first time she's ever seen the alarm system completely off" (00:00).
As she proceeds with her duties, unease grows, culminating in the eerie discovery during a scheduled real estate tour. The realtor and potential buyers encounter Honey's iPhone abandoned in a powder room and unsettling junk sculptures in the basement hobby room. The climax occurs when the indoor pool room reveals the lifeless bodies of Barry and Honey Sherman, both strangled and tethered unnaturally:
"Barry Sherman killed his wife, then took his own self" (00:00).
3. Initial Police Investigation
Murder-Suicide Theory
Toronto Police Department (PD) swiftly labels the deaths as a potential murder-suicide. Preliminary autopsies indicate both Barry and Honey died from ligature neck compression (strangulation):
"Ligature neck compression with a rope or constricting band" (00:00).
Key points supporting this theory include:
- No signs of forced entry.
- Disabled home security system.
- Absence of unexpected DNA or fingerprints.
However, discrepancies soon surface, particularly regarding Barry's intact hyoid bone—a rarity in strangulation cases:
"The fragile U shaped hyoid bone in his neck is still intact, unbroken" (00:00).
These anomalies cast doubt on the murder-suicide hypothesis, hinting at the possibility of foul play.
4. Sherman Children’s Response and Private Investigation
Challenging Official Theories
Unconvinced by the PD's theory, Barry and Honey's children—Lauren, Jonathan, Alexandra, and Kaelin—initiate their own investigation. They hire criminal defense lawyer Brian Greenspan to lead a private inquiry aimed at uncovering the truth and exonerating their father's reputation.
Second Autopsies Reveal New Insights
Greenspan commissions second autopsies conducted by Dr. David Chasen, a respected forensic pathologist. Critical findings include:
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Use of Thin Ropes: Both Barry and Honey were strangled with thin ropes or straps (likely garrotes), not the thick leather belts found at the scene:
"They were both strangled by a very thin rope or strap, likely a garrote" (00:00).
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Missing Binding Materials: Evidence of hand bindings (zip ties) suggests the presence of a perpetrator who removed these materials from the premises:
"Nothing of the sort was found anywhere in the house" (00:00).
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Intact Hyoid Bones: Both victims had intact hyoid bones, challenging the notion that Barry could have strangled himself.
These revelations strongly indicate a third party's involvement, undermining the initial murder-suicide theory.
5. Emergence of New Evidence
Security Camera Footage Leaks
Two significant pieces of security camera footage surface in later years:
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December 14, 2017: A man repeatedly enters the Sherman home, spending a total of 29 minutes inside. His face and vehicle details are too unclear to identify:
"Could this man have been involved in their murders?" (00:00).
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2021 Four-Year Anniversary: Another clip shows an unidentified man walking towards the Sherman home. He has no visible cell phone and possesses a distinctive gait, making him a person of interest:
"This unidentified man is the only individual whose presence in the area police can't explain" (00:00).
These discoveries renew interest and scrutiny, compelling the Toronto PD to reassess the case as a targeted double homicide.
6. Potential Motives and Suspects
Barry Sherman's Business Practices
Barry Sherman’s aggressive tactics in the pharmaceutical industry, particularly through Apotex’s strategy of launching generic drugs at risk, garnered him numerous enemies and legal battles. Notably:
- $500 Million Lawsuit: Apotex faced a massive lawsuit around the time of Barry’s death.
- Family Lawsuits: Barry's cousins filed and subsequently lost a lawsuit over ownership stakes in Apotex, accruing significant legal fees against themselves (00:00).
Internal Family Tensions
Financial strains within the Sherman family add layers to the mystery:
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Massive Loans to Family and Friends: Apotex’s "Bank of Barry" extended substantial loans to individuals like Frank D'Angelo, many of which went unpaid, exacerbating Barry’s financial woes.
"Frank squanders all of it" (00:00).
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Jonathan Sherman's Position: Jonathan stood to gain immensely from his parents’ deaths by securing his inheritance and relieving himself of debts exceeding $50 million. Tensions between siblings, particularly with Alexandra, who accused him of involvement in their parents’ murders, further complicate the narrative.
Possible Hitman Involvement
Given Barry’s acknowledgment of the possibility of someone hiring a professional to murder him:
"For a thousand bucks paid to the right person, you can probably get someone killed" (00:00).
This statement fuels speculation that the murders were orchestrated by a third party with a vested interest in Barry's demise.
7. Unresolved Mysteries and Concluding Insights
Lingering Questions
Despite extensive investigations, several questions remain unanswered:
- Why Were Both Barry and Honey Targeted? If the motive was solely financial, why was Honey involved?
- Who is the Unidentified Man? The man captured on security footage has never been identified, leaving a significant gap in the investigation.
- Connection Between the Statues and Bodies: The eerie similarity between the life-sized junk sculptures and the posed bodies suggests a possible symbolic message from the killer, still unexplained.
Final Theories and Public Consensus
Through relentless efforts by the Sherman family, private investigators, and media coverage, a consensus emerges that the police's initial murder-suicide theory is flawed. The prevalent belief is that Barry and Honey Sherman were victims of a targeted double homicide, potentially orchestrated by individuals within Barry’s extensive professional and personal network.
The case remains unsolved, with the Sherman children continuing to seek justice:
"The Sherman case remains one of the most high-profile murder mysteries of this century" (00:00).
Conclusion
"The Billion Dollar Mystery" episode of "Late Nights with Nexpo" masterfully navigates the intricate and unresolved case of Barry and Honey Sherman. By meticulously outlining the events, scrutinizing the investigation's shortcomings, and exploring various theories, the episode engages listeners in a compelling true crime narrative. Despite years of investigation and the emergence of new evidence, the truth behind the Shermans' deaths remains elusive, cementing this case as a baffling mystery in modern criminal history.
Note: All timestamps reference the provided transcript starting at [00:00].