Canadian Ran Panama Company With $47 Million Stolen From Ontario Govt.
Date
4/10/2023 2:13:01 PM
(MENAFN- Newsroom Panama)
Sanjay Madan, a former Ontario government employee, pleaded guilty to stealing $47.4 million from the provincial government and was sentenced to a decade behind bars in a Toronto court. For his operations, he used a company created in Panama.
The former Education Ministry employee stole funds that included nearly $11 million in pandemic relief at a time when he was earning more than $176,000 a year.
He was fired in October 2020 when allegations surfaced and was indicted by the Ontario Provincial Police's anticorruption squad the following September.
Madan was recently convicted of six counts of fraud, breach of trust, and money laundering as part of a scheme related to his work for the Support for Families pandemic relief fund, which provided money to Ontario parents or guardians for educational expenses. .
He was first charged with theft of the aid funds in 2021, but later admitted to a further $36.6 million fraud scheme involving kickbacks on government-owned computers from 2010, bringing his total haul to $47.4 million.
MENAFN10042023000218011062ID1105974826
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.