Simon Fraser University is seeking to reclaim over $800,000 from its former director of finance for the science faculty, Siamak Saidi, who allegedly used the funds to purchase three properties in the lower mainland.
According to the University’s statement, which was released on Aug. 20, discrepancies involving invoices were noted last year by the Faculty of Science. “Upon further examination, [SFU’s] internal auditor discovered information in 2012 that led the university to contact the RCMP,” read the statement. These discoveries followed Saidi’s termination after his position became redundant in January 2012 as a result of restructuring.
During his employment at SFU from June 2010 to January 2012, Saidi allegedly submitted more than 500 invoices to SFU from companies in which he was a director. According to the affidavit filed by Gary Chan, director of internal audit for SFU, “All of these invoices were approved by Saidi and submitted by SFU’s accounts payable department so as to cause cheques to be issued to the vendors in question at the addresses set out in their invoices.”
Concerns over the invoices were raised after SFU noticed that the various supplies and equipment had been bought from vendors with whom the University was not familiar, as well as the fact that the registered office for the companies in which Saidi was a director was Saidi’s residential address.
Saidi, who is currently a chartered accountant with offices on West Pender, is accused of using the money from these payments to purchase three properties — in Burnaby, Belcarra and Abbotsford. These properties were purchased during the time that the false invoices were charged to SFU or or were subject to mortgage financing for which he was responsible, says the suit.
Saidi allegedly submitted more than 500 invoices to SFU from companies in which he was a director.
Although the University has stated that it is not in a place to comment, Dr. Claire Cupples, dean of the Faculty of Science, assured The Peak that SFU is taking steps to prevent this from happening again.
Said Cupples, “I understand that the university is taking a serious look at its financial processes in light of this case, and certainly we in the Faculty of Science have worked hard with our eight departments over the last year to update all of our financial procedures.”
Saidi has been charged with fraud over $5,000, theft over $5,000, forgery and using forged documents. The University is seeking to reclaim a total of $846,926 from Saidi, as well as to enforce an order that he be disallowed from disposing of the properties in any fashion. Additionally, SFU is asking that Saidi disclose all of his assets — both personal and professional.
On Friday, Aug. 23, a Provincial Court Judge froze Saidi’s assets, granting the injunction by SFU against its former manager. Saidi has been in RCMP custody since Tuesday, Aug. 21 and will remain there until Sept. 5, when he is scheduled to appear in court.
Saidi could not be reached for comment. The case is currently before for the civil and the criminal court.
