CINAR scandal

The CINAR scandal was a major accounting scandal in Canada that came to light in March 2000 at CINAR, renamed to Cookie Jar Group, one of the world's most successful children's television production companies at the time.[1] It was exposed when investigators revealed that US$122 million was invested into Bahamian bank accounts without the board members' approval. The scandal resulted in Canada's longest criminal trial ever brought before a jury, lasting from May 2014 to 2016.[2][3]

In 2004, following the scandal, CINAR was sold to a group led by Nelvana founder Michael Hirsh, and former Nelvana president Toper Taylor for CA$190 million.[4] The company was subsequently renamed Cookie Jar.[5]

  1. ^ Yakabuski, Konrad. "The tattered Cinar legacy is a lesson in humility". The Globe and Mail. Archived from the original on 8 November 2020. Retrieved 20 April 2020.
  2. ^ "Cinar verdict sets example for white collar crime". Montreal Gazette. Retrieved 20 April 2020.
  3. ^ "Jury finds three accused in Cinar trial guilty of fraud". montrealgazette. Archived from the original on 2017-11-16. Retrieved 2023-04-14.
  4. ^ "CINAR sold for $143.9 million US; new owner outlines growth strategy". CBC News. October 31, 2003. Archived from the original on November 7, 2012. Retrieved September 7, 2006.
  5. ^ "CINAR turns into Cookie Jar". Variety. 28 March 2004. Archived from the original on 14 March 2017. Retrieved March 14, 2017.