Warrant issued for Cinar founder Weinberg’s arrest

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Ronald Weinberg

Ronald Weinberg

Arrest warrants have been issued for Ronald Weinberg, the founder and former head of now-defunct children’s animation studio company Cinar, and two businessmen in connection with the alleged fraud of $120 million.

Quebec provincial police arrested Hasanain Panju, Cinar’s former chief financial officer, on Wednesday.

According to police, Weinberg, 59, is out of Canada. He is believed to be in Florida.

The two businessmen being sought are asset management executives John Xanthoudakis, president of Montreal hedge fund operator Norshield Financial Group, and Lino Pasquale Matteo, president of Mount Real. Mount Real and Norshield both have gone through other legal proceedings for allegedly scamming millions of dollars from investors.

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