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Toronto’s financial district at the corner of Bay and Adelaide streets. (Gloria Nieto/The Globe and Mail)
Toronto’s financial district at the corner of Bay and Adelaide streets. (Gloria Nieto/The Globe and Mail)

Callidus hits back at former executive in legal dispute Add to ...

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Callidus Capital Corp. is suing a former employee over allegations of misconduct related to loans to three companies that include claims of forged letters and artificially inflated financial results.

Toronto-based Callidus lends money to companies that are unable to borrow from traditional lenders such as banks, and has approximately $1.2-billion outstanding on 28 loans. In early February, Craig Boyer, the company’s former chief underwriter, sued Callidus in the Ontario Superior Court of Justice over vacation pay, health benefits and stock options that he said he is owed after being “constructively terminated” last August.

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