(JTA) — Toronto billionaire and philanthropist Barry Sherman and his wife Honey were found dead in their north Toronto home under what police have called “suspicious” circumstances.

The Toronto-based Globe and Mail cited a police source as saying that the couple’s bodies were found Friday night hanging from a railing that surrounded their basement pool. Police reportedly are investigating the deaths as a murder-suicide.

The Sherman family released a statement on Saturday saying they are “shocked” at reports of the murder-suicide theory.

“Our parents shared an enthusiasm for life and commitment to their family and community totally inconsistent with the rumors regrettably circulated in the media as to the circumstances surrounding their deaths,” they said in a statement issued Saturday.

“We are shocked and think it’s irresponsible that police sources have reportedly advised the media of a theory which neither their family, their friends nor their colleagues believe to be true,” the statement also said.

No note was found at the family home, the newspaper reported citing the police source.

Barry Sherman was 75, and Honey Sherman was 70. They had four children.  They recently had put their house up for sale for about $5.4 million.

Barry Sherman was founder in 1974 and chairman of generic drug maker Apotex. He is the 15^th richest Canadian, according to Canadian Business magazine, with an estimated wealth of $4.77 billion Canadian or $3.65 billion.

In addition to donating some $39 million to the United Jewish Appeal, Sherman was a fundraiser for Prime Minister Justin Trudeau’s Liberal Party.

Trudeau said in a tweet that he was “saddened by news of the sudden passing of Barry and Honey Sherman.”

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