The wild, wild west without the horses?

Anonymous has left a new comment on your post, "True confession time Steve!"

http://www.sunnewsnetwork.ca/sunnews/canada/archives/
2013/03/20130313-193301.html

Dear Anonymous:

Thank you for the update and reminding CyberSmokeBlog. Yes, it was aware of rumours there'd been "an alleged impropriety" involving a Louis Riel Capital Corporation employee but subsequently lost sight of the case.

Here's what's interesting:

(1) At $1,000 a month it will take Mr. Repay almost 9 years to "Repay" (Excuse the bad pun!) the $100,000. According to The Sun article, 20 months of that time will be spent serving a conditional sentence at home where presumably his earning potential will be very low if at all. Ditto once the sentence has been served? Will LRCC ever see the full $100,000?

(2) Does The Corporation receive any public money and if so how much annually? 

(2) Assuming taxpayer contributions, do funders and fundees not have a joint, shared responsibility to ensure funding is spent as intended? You will notice according to the report the theft took place over at least a 4-year period. What does that suggest? Was fiduciary responsibility and due diligence exercised by both parties?

(3) The Corporation describes itself as an arm's-length affiliate of the Manitoba Metis Federation but according to its webpage:

(i) Former MMF Vice-President  and longtime apparatchik Muriel Parker is listed as Chairperson

(2) Federation President David Chartrand's brother Elbert Chartrand is shown as a Director. He is also the current Regional Northwest Vice President for the Manitoba Metis Federation

(3) Leah LaPlante is listed as a Director. She is currently MMF Regional Southwest Vice President 

(4) Other Board of Directs are identified as Lorna Paul, Greg Gaudry and James Bruce

(5) If the Louis Riel Capital Corporation receives any operating or investment capital from the federal and/or provincial governments, are they represented on its Board of Directors to provide taxpayer oversight?

Shortly, CSB will request the Repay file at the Manitoba Court of Queen's Bench so it can go for a read.

Finally, "The wild, wild west without the horses." That quote comes from a longtime Manitoba Justice official in describing the financial oversight in some Aboriginal organizations.

Sincerely,
Clare L. Pieuk

Ex-GM of company tht nurtures Metis businesses admits to stealing from company to gamble

James Turner/QMI AgencyWednesday, March 13, 2013

Credit: Reuters

WINNIPEG -- The ex-general manager of a Manitoba Metis Federation-linked capital company which nurtures small Metis and non-treaty aboriginal local businesses has admitted to pilfering cash from the venture to feed his gambling addiction.

Douglas Allan Repay, 53, pleaded guilty this week to theft over $5,000 for taking $100,000 from the Louis Riel Capital Corporation between April 2004 and May 2008.

He won't see real jail time after Court of Queen's Bench Justice Ken Hanssen approved a 20-month conditional sentence that Repay will serve at home.

The judge also ordered Repay pay back LRCC to the tune of $1,000 a month.

Repay overpaid himself for his work to the tune of more than $95,000 and claimed unauthorized expenses for more than $61,000, Crown attorney Neil Cutler said.

Repay only concedes stealing an even $100,000, however, and chalks the rest up to inadvertent mistakes, Cutler explained.

Civil court proceedings were initiated against Repay in 2009.

The thefts were uncovered through routine accounting work and reported to LRCC's Board of Directors.

Repay twice met with Board Members and admitted he struggled with a gambling problem but each time understated the amount of money he stole, Hanssen was told.

Repay apologized, saying since being caught he hasn't so much as flipped a coin.

"I hurt a lot of victims," he said, adding the burden of the harm caused would be with him well after the sentence was over and the money paid back.