MONTREAL – Three men charged in a $120-million fraud case dating back more than 15 years have been convicted on most of the charges they faced.
A jury found Ronald Weinberg, John Xanthoudakis and Lino Matteo guilty in a Montreal courtroom Thursday.
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Weinberg co-founded the Cinar animation company, which created popular children’s shows such as “Arthur” and “Caillou.”
Xanthoudakis is the former head of Norshield Financial Group Inc. and Matteo was president of the Mount Real investment firm.
The three men were charged with transferring funds from Cinar to the Bahamas nearly 20 years ago.
They were imprisoned Thursday pending sentencing arguments Monday after a trial that began in May 2014.
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