The BC Director of the Canadian Taxpayers Federation is not buying what the BC Lottery Corporation is selling after its former CEO was found to be in conflict of interest.
While BCLC chair Bud Smith says there hands were tied because Michael Graydon didn’t tell them all they should have known, Jordan Bateman says no dice.
“That is there only job. They are supposed to be keeping track of what that CEO was doing and that clearly hasn’t happened here. That is the failure of the board. Obviously what Mr. Graydon did was hiding this from the board but at the same time the board has got to have there finger on the pulse. They have to know what is going on and they have to have procedures in place to protect themselves and taxpayers from having this happen again.”
Bateman says BCLC chair Bud Smith should have had better tabs on what Michael Graydon was doing.
“And then they found out they are negotiating exit packages for two months with someone they are supposed to be regulating. I was very concerned about this. I am glad they did the review. I hope this Crown Corporation gets pulled up on the carpet and the board chairman is forced to report to a committee and talk to us about exactly what happened here and how we are going to make sure it never happens again.”
Bateman says also axpayers won’t be getting back the 86-thousand dollar golden handshake Graydon recieved.
“I wish we could get that money back but it doesn’t seem like BCLC had the proper legal contract wording to protect us from this. That is a grievous failure as well. At least have a contract written that gives us a chance to claw this back if something like this happens. They didn’t do that so no due diligence so it means taxpayers are out of luck on this one.”
Graydon negotiated with Paragon while working for BCLC and had access to its information system after leaving.