Former AMA vice-president charged with fraud connected to more than $8 million

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Edmonton police have charged a former vice-president of the Alberta Motor Association (AMA) with defrauding his employer of more than $8 million.

Jim Gladden has been charged with fraud over $5,000, laundering proceeds of crime, and five counts of use of a forged document.

The AMA alerted police in the fall of 2016 after it discovered a number of fraudulent invoices. An investigation found that more than $8 million had been stolen between March 2011 and June 2016.

Gladden, AMA’s former vice-president of information technology, has formally denied that he defrauded the organization, but in January he did not oppose a consent-order judgement brought against him by the AMA for more than $10.2 million.

The 38-year-old also did not oppose the seizure and sale of the assets he allegedly bought with the stolen funds, including an office building, homes, and a 2016 Porsche.

While working as a vice-president at the Alberta Motor Association, Gladden made about $210,000 a year. He worked there for close to eight years, and was vice-president of information technology for 18 months.

Read more at CBC News

This article is summarized by Canadian Fraud News Inc.