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.’