BayToday is reporting a North Bay businessman and developer faces a fine and suspension after a virtual Ontario Chartered Professional Accountants of Ontario (CPA) Professional Conduct Committee disciplinary hearing.

In a release, Renzo Silveri says the vast majority of allegations were withdrawn and he has admitted he was in a technical breach of certain association rules of conduct.

The full statement is below.

BayToday reports the suspension is for seven months and the fine is $25,000.

Here is the full release from Silveri’s lawyer:
North Bay – A regulatory hearing was held by the Chartered Professional Accountants of Ontario (the “CPAO”) today to review the actions of local businessman, Renzo Silveri. Mr. Silveri is a lifelong resident of North Bay, who together with his family, has spent his working life building North Bay into a place people of this City are proud to call their home.
The allegations made against Mr. Silveri revolve around various disputes regarding Premier Village by the Lake development.
Responding to the agreement entered into with the CPAO, Silveri stated: “I have always believed that the CPAO substantially over-reached when it brought this complaint against me. Today I was vindicated with the vast majority of those allegations being withdrawn. I have admitted that I was in technical breach of certain of my association’s rules of conduct and for which I have accepted the penalty. That said, my actions did not injure or harm any resident of the development. During my stewardship of the Premier Village development not once did the costs paid by its residents increase. Once the new management committee took over, the development has faced spiraling costs and substantial budget deficits arising primarily from poorly conceived strategies and a lack of understanding as to how to run a private condominium community. I feel terrible that the Premier Village residents have been put in this situation with the new management committee. My hope is the residents take a close look at how this development is now being run and hold its current leadership accountable.”

Check out the full story at BayToday.ca
https://www.baytoday.ca/local-news/north-bay-businessman-fined-25000-for-professional-misconduct-2823523

Photo by Jeff Turl/BayToday.ca 

Filed under: north bay