Michael Graydon, the former head of the British Columbia Lottery Corporation, has paid back more than $55,000 after a government audit issued last month concluded he was in a conflict of interest in a new job.
“BCLC’s legal counsel has reached an agreement with former BCLC President & CEO, Mr. Michael Graydon,” announced the BCLC today.
“Under the agreement, BCLC has received full repayment in the amount of $55,171.20, which includes total net salary and holdback Mr. Graydon received from February 4, 2014 until March 31, 2014.
“BCLC did not request repayment of $30,960 in vacation pay as Mr. Graydon is legally entitled to these funds.”
READ MORE: Former B.C. lottery CEO in conflict of interest
The government asked Grayson to pay that amount back in July. In February, Graydon left the BCLC to become president of PV Hospitality ULC, a company affiliated with Paragon Gaming, the developers of the casino project adjacent to BC Place.
The 10-page audit found Graydon was in a conflict of interest because he should have disclosed to the corporation’s board of directors he was in employment talks with an affiliate of Paragon Gaming. It also said his prospective employment provided him with an economic interest.
“This interest could be considered significant enough to at least establish a reasonable apprehension that it would influence the duties and responsibilities of a CEO of BCLC,” stated the audit.
Graydon had denied there was any conflict in his role.
WATCH: Former BCLC boss denies conflict of interest
– With files from the Canadian Press