Concordia Pays $2 Million Fine

Cash Will Come From “Reserve Account”

Concordia has paid the $2 million fine handed out by the Ministry of Education last March, Chief Financial Officer Patrick Kelley announced today.

“We paid the fine through a reserve account that we maintained. We wanted to make sure no other operations were affected,” Kelley said during a Sept. 14 meeting of Concordia’s Senate.

The fine was doled out as punishment for the handing out of $3.1 million in severance packages to top administrators between October 2009 and December 2010.

More to come.

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