Former financial controller stole $12 million
AJAX – A former financial controller employed by an international medical research and development company has been arrested and charged with embezzling $12 million from the company’s Montreal division.
The suspect, Timothy Rodkin, 46, of Ajax, allegedly stole the money over a period between January 2006 and September 2011.
Sensing financial irregularities, the company hired a forensic accounting firm to investigate its internal auditing books. Their investigation revealed that Rodkin, working from his home, had used a number of business accounts to pay for personal expenses including mortgage and home extras, luxury vehicles, trips and other extravagant expenses.
Rodkin was charged with fraud in February, but later beached his release conditions and was re-arrested.
On May 11, Rodkin pleaded guilty to the charges in an Oshawa courtroom and was sentenced to five years in a federal penitentiary.