This is big kids. stay tuned.
Two First Nation chiefs say they were offered money as enticement to sign their communities up for Bank of Montreal loan agreements arranged by a Winnipeg-based financial firm that an internal document shows used "kickbacks" as a tool to secure clients.
The chiefs, from Manitoba and Saskatchewan, said they were offered money by senior officials with The Usand Group, which bills itself as a firm dedicated to helping First Nation communities participate in the "global economy," according to its website.
They said Usand would arrange the loan agreements with the First Nation and then approach the Bank of Montreal to secure the loan. The loan total would include fees owed to Usand resulting from the firm arranging the agreement.
[...]
[A]n internal Usand document obtained by APTN National News shows that the firm listed the use of "kickbacks" as a potential tool for use in securing deals with prospective First Nation clients.
The document, a 2014 risk management plan, analyzed the potential risks associated with the use of "kickbacks." The document outlined possible "preventive actions" to mitigate those risks along with "contingency plans" to counter any negative fallout from the use of the tactic.
The main risk associated with the use of kickbacks was the possibility "any 'favours' become publicized,'" said the document. The document rated the likelihood of this happening as "medium" and the potential impact as "very high."
The document suggested that "no written record of dealings" be made of any kickback arrangements which should be shrouded in "vague langue, ie: offer to 'give money back to community to be used at their discretion.'"
In the event a kickback deal became public, the document suggested Usand employ a "positive PR strategy with (a) communications firm."
but wait, there's more!
Ovide Mercredi is President of the Manitoba NDP.
Via.
http://www.smalldeadanimals.com/2016/01/why-is-there-al-66.html#comments
The chiefs, from Manitoba and Saskatchewan, said they were offered money by senior officials with The Usand Group, which bills itself as a firm dedicated to helping First Nation communities participate in the "global economy," according to its website.
They said Usand would arrange the loan agreements with the First Nation and then approach the Bank of Montreal to secure the loan. The loan total would include fees owed to Usand resulting from the firm arranging the agreement.
[...]
[A]n internal Usand document obtained by APTN National News shows that the firm listed the use of "kickbacks" as a potential tool for use in securing deals with prospective First Nation clients.
The document, a 2014 risk management plan, analyzed the potential risks associated with the use of "kickbacks." The document outlined possible "preventive actions" to mitigate those risks along with "contingency plans" to counter any negative fallout from the use of the tactic.
The main risk associated with the use of kickbacks was the possibility "any 'favours' become publicized,'" said the document. The document rated the likelihood of this happening as "medium" and the potential impact as "very high."
The document suggested that "no written record of dealings" be made of any kickback arrangements which should be shrouded in "vague langue, ie: offer to 'give money back to community to be used at their discretion.'"
In the event a kickback deal became public, the document suggested Usand employ a "positive PR strategy with (a) communications firm."
but wait, there's more!
Ovide Mercredi is President of the Manitoba NDP.
Via.
http://www.smalldeadanimals.com/2016/01/why-is-there-al-66.html#comments