Hussain and Sunrise’s co-director, Muzammil Kodwavi, had improperly diverted more than $10 million intended for the townhouse project, the receiver alleged. The money was allegedly transferred to the two directors as well as several other companies they’re affiliated with.

The receiver alleged in a Dec. 2022 court motion that the directors then cooked the books, maintaining an inaccurate ledger to conceal the true nature of transactions that “only served to enrich themselves and non-arm’s lengths parties to the detriment of the company and its creditors.”

  • VieuxQueb
    link
    fedilink
    arrow-up
    13
    ·
    1 year ago

    They should be sent to jail ! If I stole 500$ they would send me to jail, why stealing 10 millions would not ?

    • jadero
      link
      fedilink
      arrow-up
      8
      ·
      1 year ago

      I think the key is found in the terminology. They didn’t steal, they diverted. We have to call theft where we see it, not paper it over with euphemisms.

      • Avid Amoeba
        link
        fedilink
        arrow-up
        4
        ·
        1 year ago

        That’s the parent’s mistake. They have to divert the $500, then they’ll be fine.

  • SirSamuel@lemmy.world
    link
    fedilink
    arrow-up
    4
    ·
    1 year ago

    Dang it Ontario! Every time i see a headline about your governor my initial thought is “what has Ford Motor Co. done this time?”

    Every. Time