Barrie accused of misusing funds
Report claims Lightning co-owner misappropriated monies from Bear Mountain Resort, using $2.5-million to buy his share of NHL team
David Shoalts
Globe and Mail ??http://www.theglobeandmail.com/sports/barrie-accused-of-misusing-funds/article1271363/
Tuesday, Sep. 01, 2009
A report by the former auditor of Bear Mountain Resort (a massive golf, hotel and commercial and residential project near Victoria headed by Canadian Len Barrie) has accused the Tampa Bay Lightning co-owner and other senior members of the complex's management team of misappropriating funds.
The Victoria accounting firm of Norgaard Neale Camden Ltd. made the report to Bear Mountain?s executive committee last January and then resigned as the auditor on April 15 because it felt some financial transactions were illegal and because Bear Mountain's directors did not take action.
Some of those transactions, according to the report, involved at least $2.5-million that Mr. Barrie, a former NHL-player-turned-owner, used to pay for his part of the Tampa Bay Lightning. The report raised questions about more than $25.8-million paid to Mr. Barrie or companies under his control going back at least two years by the partnership that owns Bear Mountain.
"We brought to your attention a number of instances where senior members of [Bear Mountain] management had engaged in a number of activities that, in our view, were improper and, in some cases, illegal," the auditor stated in its resignation letter, which was signed by Allan Neale, a partner in Norgaard Neale Camden.
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