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Couple charged in multi-million dollar ripoff of Ontario government

 

Couple charged in multi-million dollar ripoff of Ontario government

Charges have finally been filed against two fired Ontario government IT employees in a fraud and kickback case that will likely  go into the tens of millions of dollars. At the beginning of the current year media exploded with the story that alleged Sanjay Madan had been accused of ripping off $11 million from the Support for Families program that was intended to assist families with extra expenses during COVID. He was also accused of accepting millions in kickbacks to steer IT contacts to companies he was closely associated with over a period of several years. Acting on a tip from a Bank of Montreal employee who came across hundreds of bank accounts in Madan’s name the province suspended and then fired Madan from his senior IT job, as well as his wife who worked in another ministry, also in IT. In addition, two of the couple’s sons who worked in IT for the province were let go. The government went to court to have Madan’s assets frozen. It turned out he had been shipping money off to his native India through bank transfers and in some cases carried by relatives. Courts were told Madan had a secret revenue stream that allowed him to finance a sizable real estate portfolio, including two rental apartment buildings in Waterloo near the university district, with a total of 30 units. All told, Madan’s assets were worth more than $10 million.

It all came to its inevitable conclusion this week when the OPP Anti-Rackets Branch arrested and charged Sanjay with:

•             Breach of Trust, contrary to section 122 of the Criminal Code (x 2)

•             Fraud over $5000.00, contrary to section 380(1) of the Criminal Code (x 2)

•             Money Laundering, contrary to section 462.31(1)(a) of the Criminal Code

•             Possession of Property Obtained by Crime over $5000.00, contrary to section 354(1)(a) of the Criminal Code. He is in jail awaiting a bail hearing tomorrow.

Also charged was his wife, Shalini Madan with:

•             Money Laundering, contrary to section 462.31(1)(a) of the Criminal Code

•             Possession of Property Obtained by Crime, over $5000.00, contrary to section 354(1)(a) of the Criminal Code. She was released from custody and is scheduled to appear in court on November 10.

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