Good morning. I’m Josh O’Kane, a reporter who covers arts organizations for The Globe. Canada’s music industry is reckoning with what might be its biggest-ever heist as it starts the new year not knowing how to replenish nearly $10-million in government funding that was allegedly stolen in 2024.a Canadian co-owner, with Northleaf Capital Partners Ltd. joining forces with the sports company’s Swedish private equity backer in a $600-million transaction.Earnings include Artizia Inc.
Last June, just days after Heritage made a $14.3-million deposit, someone withdrew $9.8-million from FACTOR’s Bank of Nova Scotia account and put it in another account with the same bank, according to court filings with the Ontario Superior Court of Justice Commercial List. The money was Court filings show that the “cyberthief” got into the account in January, 2024, five months before the alleged theft, andFACTOR has been in court since July trying to figure out how to get its money back, and from where.
The bank says that FACTOR could have voluntarily turned on such alerts, and that the guarantee does not apply in this situation.
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