Cinar co-founder Ronald Weinberg 'selfless,' 'positive force,' witnesses testify
Friends and relatives of Ronald Weinberg, the co-founder of Cinar, recounted Weinberg's acts of generosity and selflessness at his sentencing arguments today.
Weinberg – along with financiers John Xanthoudakis and Lino Matteo – was convicted last week in a $120-million fraud case that dates back more than 15 years.
Weinberg was found guilty of nine of 16 charges he faced for his role in an elaborate fraud that saw the transfer of Cinar funds to Bahamas.
Xanthoudakis,the former president and executive director of Norshield Financial Group, a Montreal-based hedge fund operator, was found guilty of all 17 charges against him.
Matteo, who ran the Montreal-based investment firm Mount Real, was found guilty of nine of 11 charges against him.
Other fraud victims sent to overflow court room
Victims of fraud in related cases involving Norshield Asset Management and the Mount Real Group were refused access to the courtroom. With limited space in the room, the families of the men awaiting sentencing were given priority.
The fraud victims, who are involved in a class action suit against Mount Real, ended up in an overflow room with a livestream of the proceedings.
Janet Watson, who is one of about 1,600 Mount Real fraud victims, said that not being able to get into the courtroom in the morning was "a huge slap in the face."
She thanked the jurors for sacrificing two years of their lives to the case.
"This is the first time we've seen any form of justice," Watson said. "Some people lost everything."
Cinar, the now-defunct children's television production company, created popular children's shows such as Arthur and Caillou.
The trial began in May 2014, making it the longest-running jury trial in Canadian history.
Justice Pierre Labrie now needs to decide on sentencing for the three men.
Proceedings resume Tuesday at 10:30 a.m.
Weinberg 'positive force,' witness says
Louis Laverdière, a television and film producer, was called by Ronald Weinberg's lawyer to speak about the impact this case has had on Weinberg's life and on others.
He said Weinberg was a real friend and helped him through the adoption of his daughter.
"I am very happy to be behind Ron and support him – and give him back what he has given me," Laverdière said.
Another witness, Janet Leslie Schinderman, met Weinberg in school and said he was "a positive force in this world."
"We are inspired by Ron still, and I hope he is inspiring himself despite the fact that a lesser man would curl up and die," Schinderman said.
Dr. Louis Morissette, a psychiatrist who treated Weinberg for pathological grief following the sudden death of his wife, Micheline Charest, in 2004, said Weinberg is vulnerable to depressive episodes because of it.
He said Weinberg's legal troubles and conviction contribute to the increased risk of another bout of depression.
The family speaks
Ronald Weinberg's son Eric was called as a witness by his father's lawyer.
He explained how he grew up with severe dyslexia and was sent to a special school in Vermont when he was young.
He said his father helped the school to grow.
Eric Charest-Weinberg called his father "selfless, with a drive and passion for helping other people."
He added that Weinberg's arrest in 2011 came as a shock.
Weinberg's other son, Alex, said Cinar was his parents' first baby. He called the past 16 years of litigation and lawyers "devastating."
"This is the first time we've seen any form of justice. We've been waiting for this moment."
