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Casino Money Diverted

14 December 2005

CARIBBEAN – As reported by Bloomberg: " A Caribbean casino controlled by former Royal Group Technologies Inc. Chairman Vic De Zen paid $192,000 to four gamblers, then the money ended up in De Zen's investment company, the Toronto Star reported today, citing the Royal Canadian Mounted Police.

"…Police are investigating De Zen and other former executives at Royal Group over transactions between the company and the [Royal St. Kitts Beach Resort and Casino ]. The U.S. Securities and Exchange Commission is investigating the company's accounting. No charges have been filed and De Zen has denied any wrongdoing…"

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