A second boss is leaving the Fund in four days

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Dive in the heart of a series of allegations of conflicts of interest and breaches of ethics, the Caisse de dépôt et placement du Québec has rejected on Friday a leader of one of its subsidiaries for the second time in four days.

  • READ ALSO: The boss of Otera has had 11 loans
  • READ ALSO: $ 44 MILLION for the project of a partner of the big boss

The institution that manages the wool socks Quebec announced this morning that the CEO of Otéra Capital Alfonso Graceffa, who has received $ 9.2 million in loans from the subsidiary of the Caisse de dépôt that he manages, and retires from his functions for the time of a independent investigation.

Alfonso Graceffa

The announcement came a few hours after our Bureau investigation had revealed that MCAP, a subsidiary of Otéra Capital, had granted not less than 11 lending real estate companies of Mr. Graceffa since 2010.

He is chairman of Otéra and MCAP. The manager and his associates used funds loaned to finance residential income located at Pointe-Claire and Côte-Saint-Luc.

It is Mr. Graceffa himself, who “has offered to withdraw from all his functions in the real estate subsidiaries of the Caisse,” writes the institution in a press release.

The Fund is said to ” agree with the decision “.

According to our information, it will continue to receive their salary (an amount not disclosed) during its removal.

Suspension or withdrawal ?

On Tuesday, it is a vice-president of Otéra Capital, Martine Gaudreault, who had been excluded temporarily from his duties.

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Again, the announcement had been made in the wake of the revelations of our Bureau of investigation. Our research had shown that Ms. Gaudreault is a business partner and heart with Alain Cormier, a lender alternative that has long been linked to the clan mafia Rizzuto.

In the case of Ms. Gaudreault, the Fund spoke of “suspension” rather than ” withdrawal “.

In the beginning of the week, the Fund announced that an independent investigation had been entrusted to a lawyer to make the light on the allegations against Ms. Gaudreault. Friday, the survey has been extended to our discoveries concerning Mr. Graceffa.

The independent investigation will “shed light on all the facts,” writes the Fund, which promises that the conclusions will be public.

The investigation is being conducted by mr. Stéphane Eljarrat, an outside lawyer. On Thursday, he said in interview that he had ” carte blanche “, which he had already formed a “big team” and that there was ” nobody who wants it to be behind.”

Legault worried

Yesterday morning, the premier of Quebec, François Legault has appeared concerned by the series of revelations from our Office of investigation with respect to the Fund.

“I find it very disturbing, Otéra “, he responded in the margin of a point of press to Beauceville.

“I’m going to follow the results of the survey and I will ensure that the Caisse has taken steps to correct the situation,” he added.

– With the collaboration of Hugo Joncas and Marc-André Gagnon, parliamentary Bureau

A tumultuous week


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Our investigation reveals that Martine Gaudreault, vice-president of Otera, is in a relationship with a private lender who has long been linked to the clan mafia Rizzuto.


The Caisse de depot, which oversees Otera, announces that Ms. Gaudreault is ” suspended “. It also entrust to an outside lawyer to make an independent investigation into the ethical conduct within the organization.


New business update by our Bureau of investigation : a business partner of Alfonso Graceffa, a great patron of Otera, received a loan of$ 44 Million for his project of a residence for seniors in Saint-Jean-sur – Richelieu, Montérégie.


Our investigation reveals that Mr. Graceffa and his ex-wife were granted a loan of$ 3.3 Million from MCAP, a subsidiary of Otéra, for the financing of an income property in Côte-Saint-Luc, on the island of Montreal.


Québec solidaire, a request that the Unité permanente anti-corruption (UPAC) to be entered of record.


The minister of Finance Eric Girard believes that the Fund is in a situation in which ” it should not be “, and the minister of public Safety Geneviève Guilbault suggests that the police could investigate if Michael Sabia, the boss of the Cashier, felt the need.


Our research shows that Mr. Graceffa has benefited not one, but 11 loans MCAP, for a total of$ 9.2 Million. These loans were used to finance income property.


The prime minister François Legault is the case of Otera ” very disturbing “.


The Caisse de dépôt announces that Mr. Graceffa withdraws all of its features the time of the independent investigation it commissioned in the beginning of the week.

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