READERS: Had questions on whether to post this. It has been a long battle that has been documented here. I am not finished and will not quit the battle but need to make choices. I must place alot of the blame on a corrupt Municicpality but also others and myself. If you have any questions just let me know.
September 12, 2011
PERTH COMMUNITY FUTURES DEVELOPMENT CORPORATION
RE: CAHILL ANTIQUES
199 Main Street
Atwood, Ontario
N0G1B0
It has now been 6 years since we started our business and it has been a hard long battle. We have invested everything we had including all of our savings to try and make this a thriving business. I have suffered and have lived without the neccessities of life all in an attempt to save what I considered my business and my home. Although I was in a what I thought was a business partnership with the Perth CFDC to acheive a thriving business and a home I was left to fend for myself without any help or support from my partners in business and left to pay all costs including legal fees and fines. This property consumed all my time and now has become a huge waste of my efforts.
It is with the most sadness and deep, deep, deep regret that I must now hand over what I worked so hard for, my property, to the Perth Community Futures Development Corporation. I hereby today September 12,2011 reliquish my property for the amount owing to the Corporation. We will be vacating the property on or before November 1, 2011 and will give up our interest in 199 Main Street Atwood Ontario and the keys will be deposited with the Corporation. I will continue to offer the property for sale and will do my due diligence to make sure that the property is taken care of.
Monday, September 19, 2011
Monday, September 12, 2011
SUIT ALLEGES FRAUD
Suit alleges fraud by former employee
Perth Community Futures Development Corp. seeking $1 million in damages
By LAURA CUDWORTH, Staff Reporter
Stratford Beacon Herald
Perth Community Futures Development Corporation has launched a lawsuit against a former employee alleging about $540,000 was misappropriated.
Perth CFDC is seeking $1 million in damages for fraud, conspiracy, breach of fiduciary duty, breach of contract and fraudulent misrepresentation from its former lending manager, John-David (JD) Graham.
His role as lending manager gave him sole authority for issuing cheques on loans approved by the organization, the statement of claim says. Graham worked at Perth CFDC from 2001 until April of this year.
Perth CFDC employees first became suspicious in early August when they spoke to an individual at a diesel repair shop about the business's loan. Perth CFDC was told that although Ultimate Diesel Repair had applied for a loan it had never received any of the funds.
"They were directed to accounts which appear to be under the control of Mr. Graham," said Andrew Phillips, lawyer for Perth CFDC.
Other allegations include the approval of loans to non-existent people or that loan advances were fraudulently diverted into Graham's personal or business accounts. The statement of claim also accuses Graham of creating fraudulent invoices from legitimate suppliers, authorizing payment and diverting the funds. In addition, the claim alleges Graham diverted loan payments made by companies which had obtained legitimate funding from Perth CFDC.
Graham declined to comment on the allegations Tuesday other than to say, "It's a misunderstanding that's going to be corrected."
None of the allegations made by the plaintiff have been proven in court.
Perth CFDC successfully sought an injunction last week to freeze Graham's assets, his wife's assets and those of Planet Lovers Ltd., (P'lovers), also named as 1394561 Ontario Limited.
The injunction is temporary and will be addressed again in court Thursday. Phillips is confident the injunction will be extended.
He stressed the investigation is in the early stages.
Perth CFDC general manager Nigel Howard declined to speak about the lawsuit yesterday, but a statement was issued through Phillips on behalf of the organization.
"We wish to assure the public that Perth Community Futures Development takes this matter extremely seriously. We have notified the Ontario Provincial Police and a very thorough forensic investigation is underway. At this time it appears the allegations of fraud are limited to one former employee. Perth Community Futures Development is confident the impact on current operations will be minimal."
OPP confirmed a fraud investigation has been started.
The affidavit of Joan Marie Gerber, business adviser for Perth CFDC, states with payments applied to incorrect accounts the total impact could reach between $700,000 and $1 million.
Perth CFDC is a non-profit organization guided by a 12-member board of directors that encourages local entrepreneurship and grassroots economic development.
Perth CFDC has provided support to more than 150 businesses and has had a financial impact of about $10 million on the local economy.
As recently as February the federal government gave Perth CFDC $1.1 million to help rural businesses here.
Perth Community Futures Development Corp. seeking $1 million in damages
By LAURA CUDWORTH, Staff Reporter
Stratford Beacon Herald
Perth Community Futures Development Corporation has launched a lawsuit against a former employee alleging about $540,000 was misappropriated.
Perth CFDC is seeking $1 million in damages for fraud, conspiracy, breach of fiduciary duty, breach of contract and fraudulent misrepresentation from its former lending manager, John-David (JD) Graham.
His role as lending manager gave him sole authority for issuing cheques on loans approved by the organization, the statement of claim says. Graham worked at Perth CFDC from 2001 until April of this year.
Perth CFDC employees first became suspicious in early August when they spoke to an individual at a diesel repair shop about the business's loan. Perth CFDC was told that although Ultimate Diesel Repair had applied for a loan it had never received any of the funds.
"They were directed to accounts which appear to be under the control of Mr. Graham," said Andrew Phillips, lawyer for Perth CFDC.
Other allegations include the approval of loans to non-existent people or that loan advances were fraudulently diverted into Graham's personal or business accounts. The statement of claim also accuses Graham of creating fraudulent invoices from legitimate suppliers, authorizing payment and diverting the funds. In addition, the claim alleges Graham diverted loan payments made by companies which had obtained legitimate funding from Perth CFDC.
Graham declined to comment on the allegations Tuesday other than to say, "It's a misunderstanding that's going to be corrected."
None of the allegations made by the plaintiff have been proven in court.
Perth CFDC successfully sought an injunction last week to freeze Graham's assets, his wife's assets and those of Planet Lovers Ltd., (P'lovers), also named as 1394561 Ontario Limited.
The injunction is temporary and will be addressed again in court Thursday. Phillips is confident the injunction will be extended.
He stressed the investigation is in the early stages.
Perth CFDC general manager Nigel Howard declined to speak about the lawsuit yesterday, but a statement was issued through Phillips on behalf of the organization.
"We wish to assure the public that Perth Community Futures Development takes this matter extremely seriously. We have notified the Ontario Provincial Police and a very thorough forensic investigation is underway. At this time it appears the allegations of fraud are limited to one former employee. Perth Community Futures Development is confident the impact on current operations will be minimal."
OPP confirmed a fraud investigation has been started.
The affidavit of Joan Marie Gerber, business adviser for Perth CFDC, states with payments applied to incorrect accounts the total impact could reach between $700,000 and $1 million.
Perth CFDC is a non-profit organization guided by a 12-member board of directors that encourages local entrepreneurship and grassroots economic development.
Perth CFDC has provided support to more than 150 businesses and has had a financial impact of about $10 million on the local economy.
As recently as February the federal government gave Perth CFDC $1.1 million to help rural businesses here.
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