Company outlines allegations in documents filed with Ontario Superior Court of Justice
Molson Coors Canada has taken the unusual step of publicly accusing several former managers and business partners of orchestrating what it describes as a prolonged, carefully organized embezzlement operation—one that the brewer says siphoned more than $9 million from its Canadian division since 2021.
The company outlined its allegations in documents filed this week with the Ontario Superior Court of Justice, naming former senior sales leader Frank Ivankovic, former national sales account manager Michael Conforti, and two companies linked to Firkin Hospitality Group executives.
None of the allegations have been tested in court.
Alleged scheme allegedly involved several employees
According to the filing, Molson Coors alleges that Ivankovic, its former director of sales, approved a series of invoices for services that were never provided. The invoices allegedly originated from two companies—Letz Go Consulting and a numbered Ontario company—with the funds routed back to Ivankovic, his wife, and others. Those companies are associated with Firkin Group president Larry Isaacs and his wife Ellen Bacher, who, the lawsuit claims, also benefited financially.
The filing portrays the alleged scheme as a network built over multiple years, later involving additional employees. Molson Coors says Conforti issued fraudulent purchase orders and received undisclosed payments, while another unnamed staff member also participated.
Molson Coors told employees in an internal memo that the individuals involved were long-tenured and held substantial trust and responsibility.
The company says the alleged activity came to light only recently, when investigators discovered a bank inquiry sent to Ivankovic through his corporate email. The bank reportedly questioned the source of more than $276,000 in deposits from the two companies at the centre of the lawsuit. Court filings say Ivankovic texted his accountant asking how to respond, and that the accountant suggested he tell the bank “to go away,” using stronger language.
Spreadsheet said to track illicit payments
Subsequent reviews of Ivankovic’s email uncovered a spreadsheet that Molson Coors alleges was used to track illicit payments. The company also alleges that invoices were prepared to appear routine—for instance, one citing “event planning” services—despite the businesses showing no legitimate operational expenses in their records.
Funds allegedly flowed beyond the individuals directly involved. According to the lawsuit, payments were directed to K.O. Consulting and Marketing Inc., controlled by Ivankovic’s wife, who is a chiropractor, as well as to the Mississauga Golf and Country Club to cover Ivankovic’s membership fees.
In a statement to The Globe and Mail, Niklas Holmberg, the lawyer representing Isaacs and Bacher, said his clients “strenuously deny the allegations made by Molson Coors Canada and will respond to those allegations in the court.”
Molson Coors says both Ivankovic and Conforti resigned in October while under internal investigation, and that relevant data was “destroyed or withheld,” hindering the company’s ability to understand the full scope of the issue.
The brewer is seeking repayment of the funds, punitive damages, compensation for alleged breaches of employment duties, and an injunction preventing the defendants from moving assets while the case proceeds.
Molson Coors 'deeply disappointed'
In a memo distributed to staff, Molson Coors Canada president Chantalle Butler acknowledged the internal fallout.
“Needless to say, we are deeply disappointed by having to take this step regarding two long-tenured employees and others we trusted as business partners,” she wrote. “We intend to pursue all available avenues to recover the stolen funds
Molson Coors says its investigation remains active.
Molson Coors Beverage Company recently revealed plans to cut around 400 salaried jobs in North America (including Canada), roughly nine per cent of its salaried workforce, as part of a cost-reduction strategy.
