Wednesday, September 14, 2005

$500 million in federal subsidies innapropriately spent?

Some people think so...please get angry.

OTTAWA (CP) - A massive audit into a federal technology fund is expanding as independent investigators uncover new problems in companies receiving almost $500 million from Industry Canada.

Recently disclosed documents show Industry Canada has already spent at least $755,000 probing 52 companies to determine whether they inappropriately paid middlemen to secure cash from Technology Partnerships Canada.

But the investigation so far has been unable to come up with answers in about 30 per cent of the cases studied, so Industry Canada has begun a fresh round of audits to dig deeper into the firms' books.

The department also plans a further phase of audits beyond the 52 companies that have already come under scrutiny, the documents show.

1 comment:

Shawn said...

Anyone suprised?? At this point, nothing amazes me anymore. Do they have large expenditures on plain paper envelopes as well?

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