MSC, Winparkin settlement talks
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This article was published 11/07/2019 (1358 days ago), so information in it may no longer be current.
Lawyers for the Manitoba Securities Commission (MSC) are in discussions toward a settlement agreement with lawyers for Winnipeg property manager Jeff Rabb and his company Winpark Dorchester Properties over allegations the firm misappropriated more than $426,000 of funds from third-party owners of buildings the company managed.
An initial public hearing before an MSC panel on Wednesday resolved to reconvene in a month.
There is no certainty a settlement will be reached.
In a statement of allegations published in mid-June, the MSC detailed a series of events between June 2009 and 2015 where about 50 properties managed by Winpark on behalf of owners were billed $365,000 for services, supplies and products the buildings did not receive or benefit from. Instead, that work was done at Rabb’s residence and other locations of persons related to him or otherwise personally connected to him.
It also alleges Rabb and a “Winpark director” pocketed more than $61,000 in Manitoba Hydro Power Smart rebate money that should have been deposited in the trust accounts for the buildings where the work was done.