Ontario Finance Minister Greg Sorbara stepped aside last night, following revelations that he is a target of a long-running criminal investigation into Royal Group Technologies Ltd.Current Energy Minister Dwight Duncan will become the new Minister of Finance.
"While I have no idea as to what the allegations are or the facts on which they are based, my responsibility as a minister of the Crown is to step aside pending a determination of the matters alleged in the warrant," he said in a statement.
The scandal swirling around the company has dogged Mr. Sorbara since February, 2004, when the RCMP, the Ontario Securities Commission and federal tax authorities revealed that they were conducting multiple probes into Royal Group. But yesterday was the first time he became directly implicated.
He was named in the search warrants filed in court, along with a handful of former Royal Group executives, including founder Vic De Zen. The RCMP accuses the men of unlawfully defrauding shareholders and creditors "by deceit, falsehood or other fraudulent means" from Jan. 1, 1996 to Sept. 30, 2002.
And no, Mr. Takhar, we haven't forgotten about you.
Tags: greg sorbara, liberal party, ontario