Full Breakdown
Molson Canada Accuses Former Managers of Multi-Million Dollar Fraud Scheme
11/27/2025, 11:08:20 PM
Allegations of Fraudulent Activities
Molson Canada has initiated legal action against former managers, alleging a sophisticated fraud scheme that has resulted in the embezzlement of nearly $9.1 million since 2021. The lawsuit, filed in Ontario Superior Court, names Frank Ivankovic, a former sales director, as the primary orchestrator of the scheme. According to the court documents, Ivankovic exploited his position to approve fraudulent invoices from two shell companies, Letz Go and a numbered entity referred to as 466 Ontario, which are allegedly controlled by Larry Isaacs, president of Firkin Hospitality Group, and his wife, Ellen Bacher.
The lawsuit claims that Ivankovic, along with two subordinates, engaged in a conspiracy that involved issuing fake purchase orders and funneling illicit payments back to himself and his wife, Kelly O’Brien-Ivankovic. The payments were disguised as legitimate business expenses, with some invoices labeled for “event planning.” Molson Canada asserts that Ivankovic received approximately $3,655,779 from Letz Go alone, representing 50% of the fraudulent invoices submitted.
Details of the Alleged Scheme
The lawsuit outlines a series of communications between Ivankovic and Isaacs, suggesting a coordinated effort to manage the fraudulent activities. Text messages exchanged between the two included references to Isaacs’ wife as “boss,” indicating a hierarchical structure within the scheme. The allegations further detail that Ivankovic and his associates took steps to obstruct the investigation by deleting or blocking access to relevant data.
The fraudulent activities came to light when Molson discovered an email from Ivankovic's bank inquiring about large deposits exceeding $276,000 from the implicated companies into a joint account held by Ivankovic and his wife. The investigation revealed an Excel spreadsheet that tracked the fraudulent transactions, leading to the current legal action.
Official Statements & Responses
A lawyer representing Isaacs and Bacher has dismissed the allegations as baseless, asserting that they intend to respond to the claims in court. “My clients’ position is that the allegations made against them by Molson Coors are without merit,” stated Niklas Holmberg.
Criticism & Opposition
While Molson Canada has presented a detailed account of the alleged fraud, the defense maintains that the accusations lack substance. The legal representatives for Isaacs and Bacher have expressed confidence in their clients' innocence and their readiness to contest the claims.
Verbatim Quotes
- “My clients’ position is that the allegations made against them by Molson Coors are without merit and they intend to respond to those allegations in court,” — Niklas Holmberg, Lawyer for Larry Isaacs and Ellen Bacher.
What's Next
Molson Canada is seeking millions of dollars in damages as part of the lawsuit, which includes claims of fraud, conspiracy, breach of fiduciary duty, and unjust enrichment. The case is expected to unfold in the Ontario Superior Court, where the allegations will be examined in detail.
