CIBC

The Incredible True Story Of Mr. Markarian

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One man's battle against CIBC exposes the billion-dollar scams behind our country’s “stable” financial sector.

Bruce Livesey, Maisonneuve magazine – April 9, 2010

Serge Létourneau was getting impatient. It was February 14, 2005, and he was in a courtroom at Montreal’s Palais de Justice, grilling Thomas Monahan over his decision to axe an employee four years earlier. Monahan was the forty-eight-year-old head of CIBC Wood Gundy, and Létourneau was representing retired businessman Haroutioun Markarian, who was suing the brokerage house in order to retrieve $1.5 million it took from him under very questionable circumstances.

White-Collar Crime Media Articles

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Toronto Star on white-collar media articles

An excellent series by the Toronto Star: highly recommended.

CIBC closes books on Harry Migirdic affair

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The Gazette (Montreal) – August 28, 2006

The brokerage division of the Canadian Imperial Bank of Commerce has quietly turned the page on one of the more unflattering chapters in its history.

In the wake of a scathing June judgment by Superior Court Judge Jean-Pierre Senecal, who ordered the CIBC to pay more than $3 million to a retired couple who had been misled by former Montreal broker (and CIBC Wood Gundy vice-president) Harry Migirdic, it has settled out of court with more than a half-dozen other onetime clients of Migirdic.

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