CINAR Co-Founders Exit With $122M Missing
In the continuing crisis at CINAR Corp., husband and wife co-founders, Micheline Charest and Ronald Weinberg, have stepped down after senior VP and CFO Hasanain Panju was fired when US$122 million was found to have disappeared into investments without board approval. With tax fraud allegations floating in the skies, Charest will leave her chairman and co-CEO seat, while Weinberg will give up his president and co-CEO position. The couple will remain as leaders and directors of the company.