Philippe Langlois ,
Jean-François Cloutier ,
Félix Séguin and
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The subsidiary MCAP Otéra Capital has granted not less than 11 loans to firms in its own chairperson from 2010 for the financing of its real estate income, for a total of$9.2 Million.
Chairman of Otéra Capital, a subsidiary of the Caisse de dépôt
Our Office survey revealed yesterday the most recent loans that the finance Corporation MCAP was granted to Alfonso Graceffa and his ex-wife, by the end of 2017, with a value of$3.3 Million.
Our research has also identified 10 other financing provided by MCAP to the chair of its board of directors during the last nine years.
Alfonso Graceffa is also the chairman of the board of directors of Otéra Capital since last January, in addition to being the CEO since 2013. He is a member of the management of this subsidiary of the Caisse de dépôt et placement du Québec since 2008.
MCAP belongs to 78 % at the Otera.
A dozen buildings
Two of the loans that has obtained Alfonso Graceffa to MCAP, with a total value of nearly$ 1.5 Million, are gone in 2017 to a company he owns with his business partner Thomas Marcantonio.
They have been used to finance two apartment buildings of three floors, located a stone’s throw from the commuter train station Cedar Park in Pointe-Claire.
As of 2010, MCAP had issued eight other loans to another company, this one owned by Alfonso Graceffa, his ex-wife Josie Solito, and Thomas Marcantonio.
Totaling$ 4.4 Million, they have been used to finance eight apartment buildings that are the same on the street Ashgrove, at two steps from the gare Pointe-Claire.
Our Office of investigations had revealed, Wednesday, that Thomas Marcantonio has also received a significant loan of$ 44 Million Otéra for a project of a residence of elderly people in Saint-Jean-sur-Richelieu.
The code of ethics-Otéra stipulates that an employee of Otera can be an officer or director of another company, ” provided that […] the company in question is not a partner, a customer or a supplier of goods to Otera “.
MCAP was aware
Mélanie Charbonneau, vice-president, legal Affairs for Otéra, did not want to comment on each of these cases individually. She said by e-mail to our Bureau of investigation that Alfonso Graceffa had ” said MCAP’s interest in [the] property in question “.
In other words, MCAP was aware that the millions of dollars that she borrowed were used to finance buildings that belonged to the president of its board.
The subsidiary of the Caisse recalls she was given on Tuesday a “very broad mandate” to an “outside counsel” to conduct a survey on ethics in the organization.
Alfonso Graceffa has refused to grant us an interview.
♦ The Unité permanente anticorruption (UPAC) has not been able to confirm whether it was investigating the matter yesterday, but she has asked potential witnesses to contact them. “If people have things to report, they may do so and the information will be treated with great rigour,” said the spokesperson Mathieu Delisle.
Funded by the money of the depositors
The money that MCAP, a company connected to the Caisse de dépôt, has lent its own president has been used to finance these buildings with income located in Pointe-Claire, on the island of Montreal.
From bad to worse for the Fund
Since the beginning of the week, our Office of investigation has revealed the following facts about the Caisse and its subsidiary Otéra.
- Tuesday | Martine Gaudreault, vice-president of Otera, is in a relationship with a private lender who has long been linked to the clan mafia Rizzuto.
- Wednesday | 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.
- Thursday | Alfonso Graceffa and his ex-wife have themselves benefited from a loan of$ 3.3 Million from MCAP, a subsidiary of Otéra, for the financing of an income property in Côte-Saint-Luc.
- Today | Alfonso Graceffa has benefited from no less than 11 loans to MCAP for its businesses, with a value totaling$9.2 Million.