Senior Controller of GE Water & Process Technologies Canada in Oakville is accused of embezzling $1 million from the company over the last 10 years.
Kent Michael Roy, 48 was arrested by Halton police after GE’s audit team discovered several suspicious transactions in a routine audit. Further investigation found a series of false invoices and billings indicating the company had been defrauded of approximately 1 million over 10 years.
GE Water & Process Technologies is a world leader in teh supply of water purification, water water treatment and process systems. Until 2006, the company was known as Zenon but was bought by GE for $760 million in 2006.
The company is also known for extensive non-profit work around the world.
Roy will appear in a Milton court on Dec. 15, 2009.
they should do a follow up on this story… I hear this guy got 3 years federal time and has to pay back nearly a million dollars… although, everything he stole is probably spent by now..
I hear he only got a few months, which shows how bad our justice system is! I might do a few months in a white collar jail for a million dollars!!! Where’s the follow up? I hope they at least siezed his cars!
Here is an article:
http://www.icao.on.ca/Public/CurrentHearings/HearingInfo/1011page12132.pdf
so it looks like hey are asking for almost a million in payback. Wonder what happens if he puts everything in his families name and not his