| Credit union fires manager over loans
Winnipeg Free Press Thursday February 9 2006 A manager of Astra Credit Union has been fired in connection with millions of dollars of unauthorized commercial loans. The firing was confirmed in a letter Astra sent out last week to its members, to explain problems with corporate accounts held by Maple Leaf Distillers and Protos International. Astra identified a series of "irregularities" with the two accounts last fall, and suspended a manager pending the results of a special audit of all commercial bank accounts. Astra president Ian Dark said in an interview earlier this week that although the audit is not complete, it was appropriate to terminate the manager's employment with the company. The audit results will be reviewed by the credit union's board before any additional action is considered. Astra is owed more than $7.4 million by the two companies, which were put into receivership in January. |
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