MONTREAL - The former president of animation company Cinar has surrendered to Montreal police and is now facing fraud charges.
Ronald Weinberg was arrested late Thursday at Montreal's Pierre Elliott Trudeau airport after he arrived on a flight from the Dominican Republic.
The 59-year-old is expected to appear in a Montreal court on Friday to face charges in an alleged $120-million fraud.
Weinberg has been a fugitive since police issued an arrest warrant for him and three other men last week.
Police allege he and Cinar's former chief financial officer, Hasanain Panju, were involved in redirecting company funds to offshore accounts without the board's consent.
On March 2, Panju and Pasquale Lino Matteo, former president of investment firm Mount Real were arrested in the case.
Both Panju and Matteo appeared in court last week and were each released on $50,000.
Police continue to seek a fourth man connected to the alleged fraud, John Xanthoudakis, 52, former president of Norshield Financial Group.
The four suspects face a total of 36 charges, including fraud, forgery, using fake documents and publishing a false prospectus.
The fraud allegedly occurred between August 1998 and March 2000.
