Tuesday, May 6, 2014
board finance manager faces jail time
Released by Cultus Lake Park Board
May 1, 2014, the former Manager of Financial Services, Siamak Saidi,
pled guilty to 1 counts of forgery and 2 counts of fraud over $5,000
in relation to a previous employer. Saidi also pled guilty to one
count of fraud over $5,000 that occurred during his employment with
the Cultus Lake Park Board (CLPB).
In relation to the latter charge, Saidi
was sentenced to serve 1 year of jail time, (in addition to the 4
years he received related to the previous employer) and ordered to
pay $10,447.59 in restitution to the CLPB.
Subsequent to the initial staff review of accounts that occurred
around August 22, 2013, external professionals were engaged. The
result of the forensic analysis that led to the charge of fraud over
$5,000 indicated that a refund claim for Harmonized Sales Tax had
been diverted into a trust account controlled by Saidi. This amount,
to the knowledge of the CLPB, has been fully recovered by the Canada
The CLPB is working with its insurance provider to recover expenses
and losses incurred as a result of Saidi’s actions.
The annual financial statement audit for the year ended December 31,
2013 was conducted as a “high-risk” audit. The statements received
by the CLPB on April 23, 2014 expressed an opinion that they
presented fairly, in all material respects, the financial position
of the CLPB.
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