Search for Palestinian Authority’s missing millions leads to Canada
A search for millions that were allegedly embezzled from the Palestinian Authority has led to Canada – and raised questions about how the prime suspect, Muhammad Rashid, obtained Canadian citizenship.
Mr. Rashid does have established links to at least one Canadian business venture, through a 1999 investment by the Palestinian Authority in human and veterinary pharmaceuticals maker Bioniche Life Sciences Inc., then based in London, Ont.
It came about, Bioniche president Graeme McRae said, after he was told of a potential investor by Joe Fontana, then a London, Ont. MP and chair of the House of Commons citizenship and immigration committee. Mr. Fontana is now London’s mayor. The Canadian government, Mr. McRae said, was helping the Palestinian company look for investments.
“He said there’s these very interesting people who want to invest in Canadian businesses – ‘ethical Canadian businesses,’ is the way it was expressed,” Mr. McRae said in telephone interview.
“And he said, ‘I want to try to bring them to London and bring their investment.’