Kukla's Korner Hockey
by Paul on 09/01/09 at 08:44 AM ET
from the Globe and Mail,
A report by the former auditor of Bear Mountain Resort – a massive golf, hotel and commercial and residential project near Victoria headed by Canadian Len Barrie – has accused the Tampa Bay Lightning co-owner and other senior members of the complex’s management team of misappropriating funds.
The Victoria accounting firm of Norgaard Neale Camden Ltd. made the report to Bear Mountain’s executive committee last January and then resigned as the auditor on April 15 because it felt some financial transactions were illegal and because Bear Mountain’s directors did not take action.
Some of those transactions, according to the report, involved at least $2.5-million that Mr. Barrie, a former NHL-player-turned-owner, used to pay for his part of the Tampa Bay Lightning. The report raised questions about more than $25.8-million paid to Mr. Barrie or companies under his control going back at least two years by the partnership that owns Bear Mountain.
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