06:27:46 EDT Thu 28 Mar 2024
Enter Symbol
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CA



Diversified Royalty Corp
Symbol DIV
Shares Issued 68,530,173
Close 2014-11-18 C$ 2.63
Market Cap C$ 180,234,355
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Diversified Royalty ex Bennett extradited

2014-11-19 12:47 ET - Street Wire

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by Mike Caswell

John Bennett, the former chairman and chief executive officer of Bennett Environmental Inc. (now Diversified Royalty Corp.) has been extradited to the United States to answer charges stemming from a bribery scheme. Mr. Bennett, who fought extradition for four years, made his initial appearance before a judge in New Jersey on Friday, Nov. 14. The judge ordered him detained for trial, but on the understanding that he may later apply for release.

Prosecutors in New Jersey claim that Mr. Bennett, 79, was part of a scheme to pay kickbacks to receive federal government contracts from a $250-million soil cleanup project called Federal Creosote. (All figures are in U.S. dollars.) He and others arranged cash payments, a box suite at a Buffalo Sabres game and a 10-day Mediterranean cruise for people involved in awarding the contracts, prosecutors say. In return Bennett Environmental received preferred access in the bidding process, according to prosecutors.

Federal Creosote
EPA
Federal Creosote

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