Breaking: NHL senior executive involved in multimillion-dollar fraud case

A crazy scheme!

HockeyFeed
HockeyFeed
Published 6 years ago
Breaking: NHL senior executive involved in multimillion-dollar fraud case
Keystone Press

Former Vancouver Canucks goalie NHL senior director of hockey operations and and goaltender equipment Kay Whitmore has been ordered by a judge to pay back $384,000 he received after investing in a multimillion-dollar Ponzi scheme run by a local notary.


In December 2005, Whitmore invested $600,000 in the scheme being run by notary Rashida Samji. They had first met back in 2002 when she assisted him in the closing of his purchase of some real estate in the Vancouver area.

The senior director of hockey operations and goaltender equipment for the NHL testified that his understanding of the investment was that he was lending money through Samji to an “alcohol company” for a term of six months and that he would receive 7.5 per cent as interest within three weeks.

In January 2012, when Whitmore had by then withdrawn his principal from the scheme, it was said he had received a total of $384,000 in gains from the original investment.

It was revealed during the trial that Whitmore was not a party to nor had any knowledge that it was a Ponzi scheme he’d invested in and unbeknownst to him.

Also revealed in the ruling was that the total loss from the scheme was about $41 million, involving accepted claims from 150 investors who had lost money.