$400K vanishes from public service union’s coffers
CBC News—abridged
Ashley Burke
06 June 2018

A union representing public service professionals across Canada, including economists, statisticians and civilian employees of the RCMP, is trying to figure out how $400,000 was apparently siphoned from its bank accounts over the course of nearly a decade without anyone's knowledge.

Sources tell CBC News one employee has been fired from the Canadian Association of Professional Employees (CAPE) in relation to an internal investigation, though the union said several employees were investigated.

My observations
There are four main points I see here that are important for condo owners.

1.	The union notified Ottawa police more than a year ago about the alleged misappropriation of funds, but never made it public. Their members didn't know about this.
2.	Mention of the missing money was buried on the last page of a 20-page on-line financial report.
3.	The union has spent a "phenomenal amount of money" to investigate the missing money, Phillips admitted. Between Deloitte, lawyers and members of CAPE's national executive committee, it has paid out as much as $200,000.
4.	So far, the union has only been able to recover $25,000 of the missing money through its insurance company, so its net loss could approach $600,000.

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