47957
45014
S&P/TSX
15998.57
+63.20
(0.40%)
S&P-CDNX
799.35
+6.99
(0.88%)
S&P-500
2578.85
-6.79
(-0.26%)
NASDAQ
6782.79
-10.50
(-0.15%)
Dow
23358.24
-100.12
(-0.43%)
Dollar
0.7835
+0.00026
(0.033%)
Oil
56.59
-0.12
(-0.21%)
Gold
1291.89
-4.61
(-0.36%)
Silver
17.173
-0.200
(-1.15%)


6 years for Bombardier fraud

A former manager of Bombardier Inc.'s railway division in Britain was sentenced Monday to six years in prison for defrauding the firm of about $1.15 million which he used to fund a lavish lifestyle.

Andrew Saunders, 52, was sentenced several days after being found guilty of fraud by abuse of position.

He was ordered to serve at least half the sentence behind bars.

Co-defendant Roy George, 55, who operated a courier service, pleaded guilty in January to money laundering. He received a two-year suspended sentence on Monday and was ordered to carry out 300 hours of unpaid work.

Bombardier Transportation UK is responsible for maintenance of all Southern Railway trains across the South East of Britain.

The company says it spent more than $1 million and internal staff time on the case. A British prosecutor service application to recover some or all of the money taken by Saunders will be heard in April, Bombardier said.

"Bombardier has conducted a thorough internal investigation and has not identified any further wrongdoing in connection with this case," the company said in an email.

"All allegations of fraud or other wrongdoing are taken extremely seriously by Bombardier and are fully investigated and will be reported to the police when appropriate."

Sussex police say Saunders, who was manager of Bombardier's Brighton site, manipulated the payment system and paid money between August 28, 2008 and April 30, 2013 to four fake business accounts.

He issued fake invoices after claiming the work was done for Bombardier by his ex-wife and his friend's companies. However, the funds were transferred to his own joint accounts, which were used to purchase Harley-Davidsons, a hot tub and skiing holidays in the United States.

Bombardier called the police after they discovered the fraud when Saunders was off sick from work.



More Business News

47066
Recent Trending
46477
Castanet Proud Member of RTNDA Canada
Press Room
48214