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Thread: Lawsuit alleges Alberta Motor Association victim of $8.2-million fraud

  1. #1

    Default Lawsuit alleges Alberta Motor Association victim of $8.2-million fraud

    http://www.cbc.ca/news/canada/edmont...raud-1.3710363

    AMA lawyer tells Edmonton court there is 'no way' Jim Gladden could afford his lifestyle on his IT salary

    Over the past three years, Edmonton resident Jim Gladden spent money like a multimillionaire businessman.
    He bought a 2013 Porsche, sold it in 2015 and bought a 2016 model. He bought and sold a rare Italian-made Maserati. His insurance covers a 2014 Dodge Ram truck, a 2015 BMW and a $50,000 boat.
    His new home in southwest Edmonton cost an estimated $1.6 million. He purchased his 3,000-square-foot vacation home in Scottsdale, Ariz., in March for $520,000 US. As an investment, he bought a $5-million office building in downtown Edmonton.
    During this three-year spending spree, Gladden was working as vice-president of information technology for the Alberta Motor Association (AMA) and making about $210,000 a year.
    "There is no way that he could be living this lifestyle without conducting what was a brazen and substantial fraud," Calgary lawyer Munaf Mohamed told a Court of Queen's Bench justice in Edmonton on Thursday.
    (...)

    more on the link above... This could be interesting!

  2. #2
    C2E Continued Contributor
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    ^ These guys always get caught eventually . He will do time but he probably has a lot of that cash stashed somewhere.
    live for happiness because without it everything seems ho hum

  3. #3

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    I just wonder how these guys think they can get away with stuff like this.

  4. #4

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    ^Sadly a lot of them do, its good AMA have done this. Some companies just don't want the bad press / embarrassment, so they eat it, and the person gets away.

  5. #5

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    or they blame it on the parking lot cashiers/attendants, fire them all, and then ask the city for ball-outs...

  6. #6

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    If he's found guilty more than likely he'll get 4 years imprisonment and be out in two.
    "The man who does not read has no advantage over the man who cannot read." –Mark Twain

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    Top_Dawg likes how he hacked the other executives' e-mails.

    Ingenious.

  8. #8
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    Yup, and it sounds like he had a defense lawyer on his beck & call for when the time came. Guaranteed he'll be pleading not guilty.

  9. #9

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    Quote Originally Posted by Gemini View Post
    If he's found guilty more than likely he'll get 4 years imprisonment and be out in two.
    Oh he's lawyered up with a defence lawyer. Well, he'll be found not guilty due to some medical hiccup. The judge will sentence him to 4 weeks house arrest only to be let out to see his shrink. He'll be asked to pay back $9.46 in restitution. AMA will have to issue an apology for all the hurt and inconvenience they have caused him. He will then apply for a executive job with Alberta Health Services and more than likely be hired.
    "The man who does not read has no advantage over the man who cannot read." –Mark Twain

  10. #10

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    Quote Originally Posted by Medwards View Post
    http://www.cbc.ca/news/canada/edmont...raud-1.3710363

    AMA lawyer tells Edmonton court there is 'no way' Jim Gladden could afford his lifestyle on his IT salary

    Over the past three years, Edmonton resident Jim Gladden spent money like a multimillionaire businessman.
    He bought a 2013 Porsche, sold it in 2015 and bought a 2016 model. He bought and sold a rare Italian-made Maserati. His insurance covers a 2014 Dodge Ram truck, a 2015 BMW and a $50,000 boat.
    His new home in southwest Edmonton cost an estimated $1.6 million. He purchased his 3,000-square-foot vacation home in Scottsdale, Ariz., in March for $520,000 US. As an investment, he bought a $5-million office building in downtown Edmonton.
    During this three-year spending spree, Gladden was working as vice-president of information technology for the Alberta Motor Association (AMA) and making about $210,000 a year.
    "There is no way that he could be living this lifestyle without conducting what was a brazen and substantial fraud," Calgary lawyer Munaf Mohamed told a Court of Queen's Bench justice in Edmonton on Thursday.
    (...)

    more on the link above... This could be interesting!
    "There is no way that he could be living this lifestyle without conducting what was a brazen and substantial fraud," Calgary lawyer Munaf Mohamed told a Court of Queen's Bench justice in Edmonton on Thursday."

    Interesting comment considering that there are loads of people that could legitimately live that lifestyle without conducting fraud. I guess "he" is the operative word.

  11. #11

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    ^Munaf Mohamed told a Court of Queen's Bench justice in Edmonton on Thursday."
    "There is no way that he could be living this lifestyle without conducting what was a brazen and substantial fraud,"

    I don't think many people could live that lifestyle on $210,000 a year unless they were stock savvy or extremely lucky with real estate. This guy was neither of that. He had a house worth over a million and had bought a $5 million investment building in downtown Edmonton. He also bought a house in Scottsdale and had all the other trimmings of an extravagant lifestyle. I'm sure the crown's lawyers have done due diligence of doing a forensic audit of this guys finances. No lottery wins, no inheritance, no visits to Vegas, no rich wife etc. They come to the one conclusion through following the AMA money trail that they guy has been ripping the company off. Fraud, guilty.
    "The man who does not read has no advantage over the man who cannot read." –Mark Twain

  12. #12

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    Based on his linked in profile he is fairly experienced in the business and IT world. His wife is also listed as a veterinarian so I'm guessing she brings home a decent pay cheque as well. Depending on family situation I wouldn't say their lifestyle is beyond a reasonable means. His resume also includes a stint with Alberta Health and wellness and we all know how well they payout their severances..... Now that being said it seems there is some solid evidence presented by the reporter, that there were some allegedly wrong-doings.....

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