Bondfield Construction

Bondfield was founded in the 1970s by Ralph Aquino in the Toronto area with an early focus on public sector projects.{{cite web |last1=Kenter |first1=Peter |title=Bondfield: as good as its word |date=January 2011 |url=https://canada.constructconnect.com/dcn/news/others/2011/01/bondfield-as-good-as-its-word-dcn052734w#:~:text=Over%20the%20past%2040%20years,commercial%2C%20correctional%20and%20energy%20infrastructure. |publisher=Construct Connect |access-date=12 October 2024}} John Aquino and Steve Aquino, Ralph's sons, became executives of Bondfield with John Aquino becoming CEO. John Aquino was replaced as CEO by his brother Steve in October 2018.{{cite news |last1=McArthur |first1=Greg |last2=Howlett |first2=Karen |title=Former Bondfield CEO fights insolvency monitor's efforts to recover payments allegedly diverted from the company |url=https://www.theglobeandmail.com/business/article-former-bondfield-ceo-fights-insolvency-monitors-efforts-to-recover/ |access-date=12 October 2024 |publisher=The Globe and Mail |date=13 February 2020}} By this time, Bondfield was significantly behind on its two largest projects and was being sued by subcontractors for unpaid invoices. The company was granted creditor protection in April 2019 after failing to renegotiate a lending facility with high yield lender Bridging Finance Inc..

Following an investigation by Ontario's Serious Fraud Office, the Ontario Provincial Police charged former CEO John Aquino with two counts of fraud over $5,000 and one charge related to the offering or receipt of secret commissions.{{cite news |last1=Molesh |first1=Omar |title=Two charged with fraud in $300M St. Michael's hospital project |url=https://www.thestar.com/news/gta/two-charged-with-fraud-in-300m-st-michael-s-hospital-project/article_09ab3877-0b49-592f-9ddc-7ec72d130f83.html |publisher=The Toronto Star |date=9 March 2023}}{{cite news |last1=McArthur |first1=Greg |last2=Howlett |first2=Karen |title=Former St. Michael's Hospital executive Vas Georgiou, construction boss John Aquino charged in corruption probe |url=https://www.theglobeandmail.com/canada/article-corruption-construction-st-michaels-hospital/ |access-date=12 October 2024 |publisher=The Globe and Mail |date=9 March 2023}} Aquino's alleged accomplice at St. Micheal's Hospital, Vasos Georgiou, faces the same charges and an additional charge of fraud against government.

The conflict of interest allegations are based on the fact that Georgiou worked directly for John Aquino before joining St. Michael's as chief administrative officer, and that Georgiou continued to have private business dealings with Aquino while evaluating bids from Bondfield for construction projects at the hospital. The Globe and Mail disclosed the conflict of interest in a series of articles in 2015 and 2016.{{cite news |last1=McArthur |first1=Greg |last2=Doolittle |first2=Robyn |last3=Howlett |first3=Karen |title=Executive who assessed St. Michael's project bids had ties to winner |url=https://www.theglobeandmail.com/news/national/executive-who-assessed-st-michaels-project-bids-had-ties-to-winner/article26511875/ |access-date=12 October 2024 |publisher=The Globe and Mail |date=24 September 2015}} The hospital first suspended, and then fired, Georgiou in November 2015.{{cite news |last1=McArthur |first1=Greg |last2=Doolittle |first2=Robyn |last3=Howlett |first3=Karen |title=St. Michael's Hospital fires senior executive who was implicated in York University fraud |url=https://www.theglobeandmail.com/news/investigations/st-michaels-hospital-fires-senior-executive-who-was-implicated-in-york-university-fraud/article27245869/ |access-date=12 October 2024 |publisher=The Globe and Mail |date=13 November 2015}} It was later revealed that Bondfield provided Georgiou with a Blackberry that was used to share information on the bidding process.

Ernst & Young, the count-appointed monitor for Bondfield have claimed that there were over $80 million in false invoices issued to Bondfield and an affiliate, Forma-Con, from various entities related to John Aquino over a multi-year period.{{cite news |last1=McArthur |first1=Greg |title=Ontario Court rules Bondfield's former president and his associates must pay back $33-million siphoned out of the company |url=https://www.theglobeandmail.com/business/article-ontario-court-rules-bondfields-former-president-and-his-associates/ |publisher=The Globe and Mail |date=11 March 2022}} Ernst & Young is trying to recover $33 million that was paid in a period covered by the applicable law.

- Cambridge Memorial Hospital in Cambridge, Ontario. The project was delayed by two years at the time of Bondfield's bankruptcy filing, and the hospital had filed a 'notice of default' against Bondfield in 2018.{{cite news |title=20 Years of Frustration for Cambridge Memorial Hospital|date=29 December 2018|url=https://www.therecord.com/news-story/9101082-20-years-of-frustration-for-cambridge-memorial-hospital/ |work=Waterloo Region Record|access-date=30 December 2018|quote=It's been repeated stops and starts for Cambridge Memorial's long-waited hospital expansion }}

{{cite news|title=Further delays for Cambridge hospital project|date=29 December 2018|url=https://www.cambridgetimes.ca/news-story/9302284-further-delays-for-cambridge-hospital-project/|work=Cambridge Times|access-date=28 April 2019|quote=The insurance company is now in the process of appointing a new contractor to complete the next phase of the hospital project. It will begin once the handover of the new patient care wing is complete and occupation takes place.}}{{cite news |title=Bank signs performance bond for Cambridge Memorial Hospital construction |url=https://www.cbc.ca/news/canada/kitchener-waterloo/bank-signs-performance-bond-for-cambridge-memorial-hospital-construction-1.4943456 |access-date=12 October 2024 |publisher=CBC |date=13 December 2018}}

- Union Station, Bondfield was responsible for phase 2 of the revitalization of Toronto's transit hub. The project was five years behind schedule at the time of Bondfield's bankruptcy.{{cite web |last1=O'Neil |first1=Lauren |title=The construction company renovation Union station is in financial trouble |url=https://www.blogto.com/city/2019/03/company-renovating-union-station-financial-trouble/ |website=BlogTO |access-date=12 October 2024}}{{cite web |last1=Marshall |first1=Sean |title=20 YEARS: Work Never Ends at Union Station |url=https://urbantoronto.ca/news/2023/10/20-years-work-never-ends-union-station.54094 |publisher=Urban Toronto |access-date=14 October 2024}}

- St. Michael's Hospital, Toronto.

• [https://www.scc-csc.ca/case-dossier/cb/2024/40166-eng.aspx Supreme Court of Canada's summary of decision on assigning responsibility for fraud in the Bondfield case (October 2024)]
• [https://assets.cpaontario.ca/protecting-the-public/hearings-appeals/cases/2023/steve-kostich-D-23-028-allegations.pdf CPA Ontario disciplinary charges against Deloitte auditor Steve Kostich]
• [https://assets.cpaontario.ca/protecting-the-public/hearings-appeals/cases/2023/felice-iorio-D-23-029-allegations.pdf CPA Ontario disciplinary charges against Deloitte auditor Felice Iorio]

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Category:Defunct companies of Ontario

Category:Construction and civil engineering companies of Canada

Category:Fraud in Canada

Category:Companies that have filed for bankruptcy in Canada

Category:Canadian companies disestablished in 2019