Calgary businessman gets five years for defrauding oil and gas company

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Crown prosecutor Steven Johnston said he hopes the penalty sends a message “if you commit fraud and steal from your employer, you’re going to the penitentiary.”

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Court was told Fisher splurged on himself, buying a house in the resort community of Peachland, B.C., and blowing money on drugs.

Doug Penner, former CFO of Arcan Resources, said there were a number of victims and the impact on the company was immeasurable.

“I lost almost all of my savings. I lost my job, the company, my career,” he said. “There’s a lot of victims besides myself personally, all the staff were painted with that brush.”

Aspenleaf Energy Ltd. has since purchased the assets of Arcan.

(CTV Calgary)

The Canadian Press