$120-million fraud connected to makers of Caillou and Arthur

Quebec police issued arrest warrants alleging a $120-million fraud linked to defunct children’s animation company Cinar. 

Co-founder and former head of the company, Ronald Weinberg, is wanted for fraudulently investing company funds for personal profit. Police are also looking for two executives from scandal-ridden Montreal investment firms connected to the fraud. Police arrested Ex-Cinar chief financial officer Hasanain Panju Wednesday. 

The four men face a total of 36 counts of fraud.

Police have been investigating the scandal-ridden television production company for nearly a decade.

Cinar was internationally renowned for producing such shows as Caillou and Arthur.