CMRRA, Toronto, Canada-based mechanical society has reported the former Vice President of Finance and Administration and former Executive Assistant employees undermined the electronic banking facility to steal approximately $1 million from the collective. The recently discovered incidents were said to take place until October 2013.
President, Caroline Rioux and Chair, Board of Directors, Gary Furniss issued a statement December 10, in a letter on the society’s website. An insurance policy has helped recover the full amount and revised processes are now said to be in place with the institution. Legal action will be ongoing.
Founded in 1975, the Canadian Musical Reproduction Rights Agency Ltd. is a music licensing collective responsible for distributing mechanical and broadcast royalties to publishers from licensees certified by the Copyright Board of Canada.
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