Michael Ingram, 69 -- a former partner at Toronto niche corporate law firm Coutts Crane -- also once served as the director of the Laughlen Centre Foundation, a long-term care facility for pensioners, according to a report in Toronto’s The Star newspaper.
The foundation closed in 2004 and was sold for $2.5 million in March 2006. It is alleged that Mr Ingram, who was involved in the sale, deposited the proceeds into a trust account at his law firm. The balance of $2.3 million was intended for various charities, but Mr Ingram took the money for his personal benefit, police say.
Police spokesman Tony Vella said the Laughlen Centre Foundation brought the case to police after trying to retrieve the funds itself.
Mr Ingram is scheduled to appear in court on 22 August.