Wednesday, October 12, 2005

Ontario Finance Minister Greg Sorbara Resigns

Hey, finally an elected politician does what I've said to do when allegations of wrongdoing surface [Globe & Mail, Ontario Finance Minister resigns]:
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.

"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.
Current Energy Minister Dwight Duncan will become the new Minister of Finance.

And no, Mr. Takhar, we haven't forgotten about you.

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David Simpson said...

As much as we like to rag on the Liberals when they stonewall on charges of corruption, it is nice to see that Sorbara stepped down immediately. We should thank him for establishing this precedent that cabinet ministers under investigation must step down until the case is resolved. Kudos, Greg.

Jim91 said...

Here is an intersting 1990 article on Greg Sorbara and he found a way around his own government's law to give his tenants huge rent increases in spite of being part of the Cabinet.