An investigation is underway into the finances of the Saugeen Ojibway Nation Financial Corporation.
A news release issued by Saugeen First Nation in conjunction with Saugeen Ojibway Nation says the new president of SON Financial Corporation Johnathan Araujo Redbird reviewed the company’s accounts and informed SON Joint Council that expert forensic financial investigations are required.
The release explains SON Financial Corporation’s 2020 year-end audit cannot be completed at this time due to incomplete financial reporting.
An investigative and forensic accounting firm — Zysman Forensic Accounting — has been retained with a mandate to prepare an expert’s report on all financial records of SON Financial Corporation, from its inception to the present day.
The matter has also been reported to Neyaashiinigmiing First Nation Police, who will work with the Ontario Provincial Police.
SON Financial Corporation holds SON’s equity in the Bruce-to-Milton power line. Dividends earned from the stake in the power line fund important programs for both the Chippewas of Nawash Unceded First Nation and Chippewas of Saugeen Ojibway First Nation.
The SON Joint Council and SON Financial Corporation say in the release they are taking this situation very seriously.
“We want to assure the public that we will investigate this completely and thoroughly. The independent expert investigation will be provided to the SON Joint Council when complete,” the statement reads. “Subject to the needs of the ongoing investigation, we will keep the SON membership information of new information as it develops.”
Saugeen Ojibway Nation is the people of the Chippewas of Nawash Unceded First Nation and the Chippewas of Saugeen Ojibway First Nation. SON’s traditional territory spans from the Bruce Peninsula to Goderich, and from Lake Huron to Collingwood.
