Access to key accounts creates fiduciary duty; checks and balances are essential, says lawyer
An Ontario court confirmed on April 17, 2026, that a trusted office manager stole more than $1.1 million from her employer by exploiting the access he had given her, over more than two years and without his knowledge.
In reasons authored by a three-judge panel comprising Justices Zarnett, Monahan, and Rahman, the Ontario Court of Appeal upheld findings of breach of fiduciary duty, fraud, and conversion against Leticia Prado, office manager at Capital Canada Limited, an investment firm owned and operated by Robert Foster. Prado was ordered to pay $1,189,119.37 in compensatory damages to Foster, as well as $100,000 in punitive damages to Foster. The motion judge had originally awarded those punitive damages jointly to Foster and Capital Canada, but the Court of Appeal set aside the award to Capital Canada, finding its inclusion to be an error of law.
Between October 2022 and January 2025, Foster gave Prado access to his banking codes, personal cheques, and electronic signature. From those accounts, 31 e-transfers of $10,000 each (except one of $5,000), 17 cheques totalling $315,886.67, and payments to her personal Platinum American Express card totalling $563,232.70 were drawn without his authorization.
The Amex charges covered luxury goods, cosmetic medical treatments, business class flights, and an $18,000 tattoo. Prado claimed the e-transfers were bonuses or compensation for...
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