RCMP Concludes Income Trusts Investigation

[southerncomfort]

hmmmm Too soon for an election call, but who knows this would make a good wedge huh ! I say go for it, there is so much double speak and hypocrsy from the liberals and now more fodder for a CPC campaign

http://news.gc.ca/cfmx/view/en/index.jsp?articleid=276859

RCMP Concludes Income Trusts Investigation

Ottawa, February 15, 2007 – RCMP "A" Division Ottawa Commercial Crime, assisted by the Integrated Market Enforcement Teams, laid a charge against Serge Nadeau earlier today in connection with the income trusts investigation.

The investigation was initiated in December 2005 when the RCMP received allegations regarding a possible breach of security and illegal transfer of information in advance of the Government of Canada’s Nov. 23, 2005, announcement of changes to the taxation of Canadian corporate dividends and income trusts.

Serge Nadeau, age 50 of Ottawa, General Director, Analysis, Tax Policy Branch, Department of Finance Canada, is charged with Criminal Breach of Trust, in connection with the duties of his office. It is alleged that he used confidential Government of Canada information for the purchase of securities which gave him a personal benefit. Breach of Trust, under Section 122 of the Criminal Code of Canada, is an indictable offence with a maximum penalty of imprisonment for up to five years.

[geoffrey]

Which Liberal MP is going to hang for this? Oh right. MP's are immune from facing any responsibility in Canada.

[jdobbin]

hmmmm Too soon for an election call, but who knows this would make a good wedge huh ! I say go for it, there is so much double speak and hypocrsy from the liberals and now more fodder for a CPC campaign

A civil servant was charged, not elected Liberal officials. The RCMP cleared the Liberals of leaking the information.

[jdobbin]

Which Liberal MP is going to hang for this? Oh right. MP's are immune from facing any responsibility in Canada.

No politician or political staffer was charged in this. The Liberals lost 10 points in the polls in the days after the RCMP announced their investigation. It was the most significant drop in the campaign and took them from minority status to defeat.

[Topaz]

Harper knew that Goodale didn't do anything wrong but the NDP and the Cons just had to for the throat!! The Libs would have been very stupid to even think of doing anything wrong before an election and the TV ads now just show how american-like Harper gang really is!!!

[madmax]

Harper knew that Goodale didn't do anything wrong but the NDP and the Cons just had to for the throat!! The Libs would have been very stupid to even think of doing

Whoa!!! Just before the christmas break, the leaks were out. The NDP MP Judy (Some really long name)

asked Goodale to investigate possible wrongdoing.

He didn't.

Was there wrong doing?

Charges have been laid.

Was it Goodales responsibility?

Yes.

Obviously the heavy trading on income trusts was more then just coincidence and it appears a civil servant was benefiting.

Luckily the NDP were suspicious and a person has been charged.

If the CPC wanted to Rub Goodales nose in it, he should have taken the allegations more seriously then denying that anything is out of the ordinary.

[madmax]

Which Liberal MP is going to hang for this? Oh right. MP's are immune from facing any responsibility in Canada.

The Finance Minister is responsible. Goodale was the minister at the time. However the current minister is responsible for his department. Thus the Servant is suspended without pay until this is resolved.

[jdobbin]

If the CPC wanted to Rub Goodales nose in it, he should have taken the allegations more seriously then denying that anything is out of the ordinary.

Goodale denied that he leaked the information and he was quite correct.

The RCMP never confirms or denies an investigation and to so in an election is suspicious.

Criminal behaviour of individual civil servants does not make for a corrupt or even incompetent minister. It certainly doesn't make for a criminal one.

[Catchme]

If the CPC wanted to Rub Goodales nose in it, he should have taken the allegations more seriously then denying that anything is out of the ordinary.

Goodale denied that he leaked the information and he was quite correct.

The RCMP never confirms or denies an investigation and to so in an election is suspicious.

Criminal behaviour of individual civil servants does not make for a corrupt or even incompetent minister. It certainly doesn't make for a criminal one.

Charges have only been laid by no means has this civil servant even been found guilty.

Goodale was exonerated.

What is missing from this is:

A month later — just as the federal election campaign was getting underway — the RCMP announced it had begun an investigation.

Some analysts have said news of the investigation contributed to the defeat of Martin's Liberals at the hands of Stephen Harper's Conservatives on Jan. 23, 2006.

Leading to:

... some Liberals say they want their own apology in the belief the RCMP sealed the fate of their party at the last federal poll.

"They played a major role in shaping the last election on something that turned out not to be true at all,"

Why?

A month later — just as the federal election campaign was getting underway — the RCMP announced it had begun an investigation.

Some analysts have said news of the investigation contributed to the defeat of Martin's Liberals at the hands of Stephen Harper's Conservatives on Jan. 23, 2006.

So why did Zacardelli lie? And why did Harper and the CPC try to cover for him in the Arar case? The CPC would NOT have got into a minority government if not for this. It is no wonder Harper is being so....

"I hope the police are successful in getting to the bottom of the whole matter," he said Thursday.

The prime minister's muted statement was a far cry from a year earlier, when the then-opposition leader Harper repeatedly linked the income trust story to the sponsorship scandal and the Gomery inquiry.

"On the income trusts and some of these stories, I mean, I think they speak for themselves," Harper said at the time. "If we re-elect the government, we'll continue to have scandals, corruption and police investigations."

No doesn't he have egg on his face and perhaps even more! Can't wait to see what the trial exposes by way of Zarcardelli's lying press conference that gave the CPC a minority.

[geoffrey]

Oh boo hoo, someone in charge needs to hang for this one. That's how it'd work in the private sector. Throwing this on some peon is an easy way out. Managers are supposed to control the sensitive information in their department. If Goodale isn't criminal responsible, he's a completely incompetent manager at the very least.

Brision is guilty as can be when I look at that e-mail. Apparently that wasn't addressed in this report.

[Catchme]

Apparently, the person who could be at fault has been charged.

No, it would not happen that way in the business private sector world geoffery.

And just how you can tie Brison into this is beyond belief.

But hey, I guess your reading an email makes you know more than the RCMP's 14 month investigation.

[jdobbin]

Oh boo hoo, someone in charge needs to hang for this one. That's how it'd work in the private sector. Throwing this on some peon is an easy way out. Managers are supposed to control the sensitive information in their department. If Goodale isn't criminal responsible, he's a completely incompetent manager at the very least.

Brision is guilty as can be when I look at that e-mail. Apparently that wasn't addressed in this report.

Liberals were investigated and the RCMP found nothing.

And CEOs aren't fired when their number 2 man gets arrested for stealing. Why should the Finance minister get fired?

*This* is how the private sector works.

http://blogs.usatoday.com/ondeadline/2006/...r_walmart_.html

Was the Wal-Mart exec incompetent or was his number 2 man in breach of trust and a breaking the law?

[Canadian Blue]

No doesn't he have egg on his face and perhaps even more! Can't wait to see what the trial exposes by way of Zarcardelli's lying press conference that gave the CPC a minority.

So it was all a conspiracy to give Harper a government and this is all based on unfounded accusations with absolutely no proof, but mere speculation???

Some people have to get a grip of reality.

[geoffrey]

Ontario Legislature, Bill 198 (2002), An Act to implement Budget measures and other initiatives of the Government

(This is the Canadian version of the Sarbanes Oxley inititives in the US).

61. Requiring chief executive officers and chief financial officers of reporting issuers, or persons performing similar functions, to provide a certification that addresses the reporting issuer's disclosure controls and procedures, including a certification that addresses,

i. the establishment and maintenance of the disclosure controls and procedures,

ii. the design of the disclosure controls and procedures, and

iii. the evaluation of the effectiveness of the disclosure controls and procedures.

Obviously the government does not have a CEO or CFO, but the department does to some extent. We should expect the Minister and Deputy Minister to follow the same accountancy practices as the private sector, if not stricter guidelines. Both were negligent in providing adequate controls on disclosure of confidential information, both did not evaluate the controls and find the violator on their own.

Obstructing justice? Possibly, the Minister and his beaurucratic chief should have been on this in a jiffy. The guy charged was a Director, no little one himself. The relationship between the Deputy Minister and the charged individual would have been quite close.

They should have known, if they didn't, they were negligent IMO.

Breaking such rules in the private sector can cost you millions:

The maximum penalties for offences under the Securities Act are increased from a fine of $1 million and imprisonment for two years to a fine of $5 million and imprisonment for five years less a day. (See the amendments to section 122 of the Act.)

If a person or company fails to comply with Ontario securities law, the Ontario Securities Commission ("OSC") is given power to order the payment of an administrative penalty of up to $1 million and to order the disgorgement of amounts obtained as a result of the non-compliance. (See the amendments to section 127 and subsections 3.4 (2) and 143 (2) of the Act and the new section 129.2 of the Act.)

--

On the other half of this, Brison's e-mail will never be enough to press charges, but anyone with half a brain realises what was happening there.

[madmax]

Charges have only been laid by no means has this civil servant even been found guilty.

Goodale was exonerated.

What is missing from this is:

Is that without the inquiries of the NDP no charges would have been laid.

What did Goodale do when asked to investigate?

[madmax]

And just how you can tie Brison into this is beyond belief.

Brison broke no criminal law.

Being irresponsible and foolish isn't a crime.

[Keepitsimple]

Let's keep things in perspective. All that's been said by the RCMP is that there is no evidence to lay any criminal charges against Goodale or a Member of Parliament. There is still the factual matter of incompetence and loose lips. There is no doubt that the markets "spiked" before the Liberal announcement. There was no such spike prior to the Conservative announcement. It's not a coincidence as some would have you believe. Secrecy and discretion are absolutely vital when dealing with issues like these - so notwithstanding the lack of criminal charges, it's clear that there were loose Liberal lips that led to this debacle.

[munsinger]

Well, it certainly comes as a great relief to know......that instead of millions of dollars changing hands during a massive stock fluctuation.......in reality, only one person actually made any money....

Right.

[jdobbin]

Let's keep things in perspective. All that's been said by the RCMP is that there is no evidence to lay any criminal charges against Goodale or a Member of Parliament. There is still the factual matter of incompetence and loose lips. There is no doubt that the markets "spiked" before the Liberal announcement. There was no such spike prior to the Conservative announcement. It's not a coincidence as some would have you believe. Secrecy and discretion are absolutely vital when dealing with issues like these - so notwithstanding the lack of criminal charges, it's clear that there were loose Liberal lips that led to this debacle.

Let's be clear. The Conservatives said criminal during the campaign. Whatever it was, it was not enough for the RCMP to lay criminal charges.

[jdobbin]

Well, it certainly comes as a great relief to know......that instead of millions of dollars changing hands during a massive stock fluctuation.......in reality, only one person actually made any money....

Right.

And one bullet killed Kennedy, Bush was not involved with September 11 and conspiracy theories don't exist.

[geoffrey]

Brison broke no criminal law.

Being irresponsible and foolish isn't a crime.

If he was irresponsible and foolish and leaked the info, which he did in his e-mail quite clearly to someone with any sense, then he did break the law.

[jdobbin]

If he was irresponsible and foolish and leaked the info, which he did in his e-mail quite clearly to someone with any sense, then he did break the law.

The RCMP didn't think so. We'll have to wait to hear what the OSC thinks although they won't confirm they are investigating.

[noahbody]

Oh boo hoo, someone in charge needs to hang for this one. That's how it'd work in the private sector. Throwing this on some peon is an easy way out. Managers are supposed to control the sensitive information in their department. If Goodale isn't criminal responsible, he's a completely incompetent manager at the very least.

Brision is guilty as can be when I look at that e-mail. Apparently that wasn't addressed in this report.

Liberals were investigated and the RCMP found nothing.

And CEOs aren't fired when their number 2 man gets arrested for stealing. Why should the Finance minister get fired?

*This* is how the private sector works.

http://blogs.usatoday.com/ondeadline/2006/...r_walmart_.html

Was the Wal-Mart exec incompetent or was his number 2 man in breach of trust and a breaking the law?

They charged one guy for insider trading. There was obviously a leak. Millions of dollars were made. Nice scandel if you can get away with it, as they did, again.

[jdobbin]

They charged one guy for insider trading. There was obviously a leak. Millions of dollars were made. Nice scandel if you can get away with it, as they did, again.

Just as Brian Mulroney got away with bribery for Airbus?

People will believe what they want to believe.

The right wing was able to benefit from the RCMP announcing a criminal investigation into the Liberals. They won an election. Fifteen months later, no charges against any Liberal.

[Topaz]

My question is how did the NDP Judy ??? know about the income trust wrong doing in the first place. If it was only one guy at fault, how or who tipped her off??