The former CEO of Otéra Capital is demanding more money from the Caisse de dépôt et placement du Québec and wants to appeal the judgment confirming that his dismissal was justified in 2019.
In November, the Superior Court concluded that the Caisse was within its rights in showing the door to Alfonso Graceffa, boss of the real estate loan subsidiary, for his serious breaches of ethics. Of the $8.4 million he claimed, Judge Andres Garin still awarded $768,000 to the former senior executive, for bonuses to which he was entitled before his dismissal.
As part of an internal investigation, Alfonso Graceffa admitted to having received $15,000 in cash from an insolvent individual with a criminal history of drug trafficking, at the Caisse’s own offices, in 2017.
In his notice of appeal, the former CEO of Otéra, who was also head of the business units of the real estate subsidiary Ivanhoé-Cambridge, believes that this event did not justify his dismissal.
Before definitively leaving these functions, Alfonso Graceffa had to step down in February 2019 after an investigation by the Journal de Montréal. The reports focused in particular on his conflicts of interest and on real estate loans from the Caisse from which he himself benefited.
