‘We recognize the seriousness of this situation and assure residents that as matters unfold, we will keep the public apprised as permitted under law’

COCHRANE – The Town of Cochrane has launched an investigation into the misappropriation of public funds tied to a municipal project.

In a statement issued Dec. 16, Mayor Peter Politis said upwards of $2 million in public funds were misappropriated in connection with the Grain Bin (Agri-Modal) Project beginning in 2021, prompting an investigation and a planned forensic audit.

TimminsToday reached out to Politis for comment but did not receive a response before publication.

According to Politis, the misappropriation appears to have occurred under the oversight of the town’s former CAO, financial department and previous council.

Acting OPP Sgt. Martin Thibault told TimminsToday the investigation is being led by the crime unit at the OPP’s Cochrane detachment.

“The only thing I can share at this point is that the OPP is engaged and conducting an investigation,” he said. “They are working on it.”

Thibault said one person of interest has been identified, though no charges have been laid.

“A person of interest could be just somebody that’s got knowledge about what’s going on,” he said. “Who knows if it’s going to evolve into charges. But, there’s definitely a person of interest at this point.”

Politis said the town is limited in what details it can publicly share at this stage.

“The misappropriated funds have already been expended and any recovery by the town would have a positive impact on future budgets,” he wrote.

Politis said the town is planning the forensic audit “to thoroughly examine the entire matter and to provide appropriate transparency to the community.”

The mayor said residents will be kept informed as the situation develops.

“We recognize the seriousness of this situation and assure residents that as matters unfold, we will keep the public apprised as permitted under law and within the confines of any ongoing investigations,” he wrote.

“The town remains steadfast in its responsibility to safeguard the public interest and public funds, provide the highest standard of accountability, and uphold the trust of our community.”

More to come…