Updates: Former BCLC boss was in conflict of interest

Vancouver, BC, Canada / (CKNW AM) AM980

Former BC Lottery Corporation CEO Michael Graydon has been found to have been in conflict of interest during his time on the job. But he still gets to keep his cushy severance package.

A government audit has found that Graydon was in discussions with Paragon Gaming in the weeks prior to leaving for a job with the private company last February, and that he failed to disclose it to the BCLC board of directors.

Finance Minister Mike de Jong was asked whether taxpayers are out the $86,000 Graydon walked away with.

“There was regular pay up to the time of departure. There was a vacation payout. But there was salary payable to March 31 in this case and a salary holdback that relates to performance.”

De Jong says he’d like to see a way to performance pay to be docked if conflict occurs.

The audit made three recommendations to tighten up exit procedures at BCLC and for government to clarify post-employment restrictions for staff of ministries or Crown corporations.

Michael Graydon has now released a statement confirming he accepts today’s findings, but he claims they’re inconsistent with the legal advice he sought before taking the new job.

He also claims ‘the auditors found no evidence of his current employer receiving ‘preferential treatment, and no evidence of any confidential information disclosed.’

Even so, Graydon says he understands ‘a perception of potential  conflict was created, and for this I apologize.’

 

Comments

  1. Does this have just a bit of a stink to it ??? Mr Graydon jumps to a company that BCLC has a business relationship with – which is questionable to start with , and now it turns out he was organizing the move before he left BCLC

    De Jong’s suggestion about docking performance pay is pretty lame to say the least .

    Only in BC could such shenanigans go on and get quielty dismissed with no consequence…. we are like a 3rd rate banana republic

  2. I’m always amazed at the great acting jobs the Ministers responsible put on when these severance and performance bonuses become public, oh the horror they display !
    It pays to be friends of those in government.

  3. Another corrupt Lie beral how many are there??????????????????????????????????????????????????????????????????????????????????????????????????????????????????

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