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Cinar co-founder, two others found guilty of fraud after lengthy trial

The former chief executive of once high-flying children’s animation company Cinar Corp. – Ronald Weinberg – and two investment executives he dealt with have been found guilty on charges of fraud and falsifying documents in connection with a series of financial transactions going back more than 15 years. 

$120 million fraud

The verdict ends what is believed to be Canada’s longest-running jury trial; it was launched in May of 2014. Mr. Weinberg, as well as John Xanthoudakis – former head of Norshield Financial Group Inc. – and Lino Matteo of Mount Real Corp. – were found guilty of most of the 26 charges against them. They had all pleaded not guilty. Mr. Weinberg, was accused of fraudulently funnelling $120-million (U.S.) out of Montreal-based Cinar into offshore accounts.

Read the full article at The Globe and Mail.