Ethics Commissioner Ariane Mignolet announced today the opening of a fifth investigation into Finance Minister Pierre Fitzgibbon, this time related to $50 million in aid Quebec paid to a company co-owned by the former Mandatory of his trust.
• Also Read: $150 million of public funds in Fitzgibbon agent’s firms
Archival photo
In 2018, the Ethics Commissioner in Quebec City was Arion Mignolet.
Mme Mignolet launched an investigation into the “Finance Minister […] Regarding possible violations of the code of ethics and professional conduct of members of the National Assembly,” reads a press release published late today.
This is the Ethics Commissioner’s fifth inquiry into Mr Fitzgibbon. The minister was accused thrice.
News magazine In November 2021, Pierre Fitzgibbon revealed earlier this week that he had authorized the Ministry of Finance to buy $24 million worth of LMPG shares. At the same time, Investment Quebec bought $26 million worth of shares in the Longueuil lighting company.
Agent and Investor
However, the person acting as agent for the minister’s blind trust was Michel Ringuet, a shareholder and director of LMPG. Additionally, Mr. Fitzgibbon himself served as director of LMPG, then known as LumenPulse, from 2013 to 2017.
“This is the beginning of a Legislature with a supermajority government and a minister with unprecedented powers – he is called a superminister – and a man with a very good moral record,” he announced today. Log Joël Arseneau is the PQ member who asked the commissioner to investigate.
“For us, it’s important […] To check that things are done properly, to send a signal that no one is above the code of ethics,” he added.
The MNA wants the commissioner to take an interest in Quebec’s investments in other companies co-owned by Mr. Ringuet’s firm, W Investments.
“She needs to see the bigger picture,” he argued.
About $150 million has already been paid
According to the compiled compilation News magazineQuebec paid about $150 million to companies partly owned by W Investments: Lion Electric, LMPG, E2IP, Averna, Gelpac and Meubles Saint-Damase.
Six of the 13 Quebec companies W Investments currently holds in its portfolio benefit from a boost from Quebec in 2020 or 2021.
Mathieu St-Amand, a spokesman for Minister Fitzgibbon, assured today that “there is no conflict of interest in this file” and that the investment in LMPG was made “in accordance with all regulations, following the recommendations of the Ministry”. Ministry of Economy, Finance and Investment Quebec”.
– Gabriel Cote, with QMI Agency
Beginning of research on Pierre Fitzgibbon
November 2018
- The first inquiry was into Mr Fitzgibbon’s shares in Heroux-DevTech, a major Bombardier supplier. The report was submitted in June 2019.
April 2019
- A second inquiry related to shares held by Mr. Fitzgibbon in Move Protein, the son of Guy LeBlanc, the CEO of Investments Quebec, whom he recently appointed. The report was submitted at the end of October 2020.
January 2020
- Mr. The third inquiry was because Fitzgibbon had failed to declare all his holdings in companies and had not sold his shares in those with links to the government. The report was submitted in December 2020.
March 2021
- A fourth inquiry into Mr Fitzgibbon’s stake in Immervision and White Star Capital. The report was submitted in June 2021.
– Mary Christine Trottier, with QMI Agency
About The Author
More Stories
How List Acquisition Helps Your Political Campaign Become Successful
Four escaped cows were caught
A simple administrative decision? | Press