
Former Mayor Ordered to Repay $815K
About this episode
Former Penticton mayor, John Vassilaki, ordered to repay over $800,000 misappropriated from family business. Court dismisses his wrongful termination claim, citing excessive wages, unworked hours, and improper payouts. Fiduciary breaches lead to immediate repayment amid ongoing legal disputes with his brother.
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Vancouver News Today | 2 Min News | The Daily News Now! — Former Mayor Ordered to Repay $815K. Machine-transcribed; use the interactive transcript above to jump the player to any line.
0:00A British Columbia Supreme Court judge has ordered former penticton mayor, John Vassalaki, to repay more than $815,000. Misappropriated from the family company Vassalaki and son's investment, which runs a liquor store in the city. The ruling also dismissed Vassalaki's claim that he was wrongfully fired from the business, where he served as a director and store manager, hiring. His wife, son, and daughter-in-law. This stems from years of tension between Vassalaki and his brother, Nicholas Vassilakakis, who together hold most shares, along with smaller stakes. From their sons, past fights include a rental income dispute and a civil suit where Vassalaki paid his brother $14,000 for battery. Court evidence showed excessive wages, totaling $631,000 paid to Vassalaki and relatives for unworked hours, including over $108,000 to him alone from 2018 to 2021 while he was
1:00mayor and not at the store. Experts confirmed the overpayments, plus improper payouts like $10,000 to family on a Mexico vacation and $5,000 for his legal. Fees, the judge cited fiduciary breaches as grounds for his termination, requiring immediate repayment amid the brother's ongoing legal clashes. I'm Corey with The Story, that's your Vancouver News Today update, AI-powered and always on.
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